business growth
October 9, 2019

Class III Hits New 2019 High on Wednesday

 |  By: Know Your Market

Cheese prices jump back over $2 per pound on Wednesday bringing Class III with it. Cheddar Blocks traded 1 load 6 ½ cents higher to $2.08 per lb. with 3 bids and no offers left. Cheddar Barrels gained 5 ¾ cents to $1.93 ½ with 3 loads moving from seller to buyer. Our Cheddar average is at $2.00 ¾ per lb. and the block barrel spread is at 14 ½ cents.

Butter however continues to tumble lower, losing 4 ½ cents with 1 load moving at $2.05 ¾, a new low we haven’t seen since the February of 2018. Grade A nonfat dry milk traded 3 loads to moved 1 ¼ cents higher to $1.16 ¼ per lb. Dry whey fell a ¾ of a cent to $0.31 per lb. with 15 loads moving.

November Class III milk made its high for the year today, touching at $18.86 as the high for the day, but settling at $18.78, up 33 cents. October gained 11 to $18.71, and December gained 15 cents to $17.90 per cwt. 2020 markets saw January - March gain 9-11 cents and average at $16.86 per cwt.

Class IV milk again followed butter lower. October fell 2 cents to $16.40, November fell 7 to $16.48 and December was unchanged at $16.56. 2020 markets showed slight gains. January gained 1 cent to $16.73 and February was up 4 to $16.92.

A mixed day in grains. December corn down 1 ½ to $3.94 ¼, November soybeans up 3 ¼ to 9.23 ¾, and October soybean meal gained $3.10 to $305.40 per ton.

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