January 5, 2018

Class III Futures Now Average Under $14

 |  By: Know Your Market

In Class III markets new lows were made in the months of February, March and April on Friday. On the day, January through April 2018 declined 10 to 18 cents while May fell 6 cents and June was down 4 cents. First half 2018 closed this week at $13.96 per cwt. August gained 2 cents while September was up 4 cents. All other months in the second half of 2018 were unchanged. Class IV milk added 4 cents and closed at $13.30 per cwt. All other months were unchanged.

CME spot product markets saw barrels fall for the fourth straight day. Barrels closed at $1.39 per pound. The average price for the week was $1.40 1/2, down 3 cents for the week. Blocks were unchanged Friday at $1.49 1/2, and averaged $1.50 1/2 for the first week of 2018, down a penny from last week.

Butter averaged $2.22 1/2 for the week, up 2 1/2 cents from last week. Grade A nonfat dry milk added a penny to end the week at 68 cents per pound.