Class III Higher On Cheese Trade
Buyers and sellers came together in robust fashion on two particular fronts. Butter traded 20 loads as it fell 2 1/4 cents to finish at $2.30 1/4 cents. Barrels dropped 1/4 cent as well after 16 loads moved from seller to a buyer, it finishes at $1.65. Block cheese moved the opposite direction, rising a penny to $1.70 1/4. However, only two loads traded hands.
A very quiet session defined grade A nonfat dry milk. It was unchanged and did not trade a single load, a much different tone than in recent weeks. It finishes at 86 cents a pound. Dried whey followed suit, also not changing its price. It finishes once more at 32 cents and also not trading any volume.
The quiet trade of powder together with the lower trade of butter caused Class IV markets to fall through the course of the year. In the end, the average price of Class IV milk in all months from now through December finished at $15.68, down 3 cents from Monday's settlement. Class III milk was inspired by the robust barrel trade and the upward movement in blocks. Its average worked higher to finish at $16.29, up four cents from Monday. That higher trade continued out through calendar 2019 where the average for Class III milk now stands at $16.12 cents per cwt.