Class III Markets Green For Spring
The Class III milk market was higher the entire day on Thursday. March added 9 cents to its price and closed at $15.03 per cwt. April-July fared the best, jumping 11-23 cents. The 2ndquarter of 2019 is offering producers $15.50 cents per cwt, the highest we have seen in that period of time since mid-January. August through December prices increased 2-5 cents and the 2ndhalf settled at a price of $16.29 per cwt.
Class IV markets ranged from 2 cents lower to 3 cents higher. CME spot product markets supported Class III Thursday as barrels added 2 cents to $1.56 and a half while dry whey gained 1 and a half cents to 32 and a quarter cent per lb. Eleven trades took place in the barrel markets and six transactions happened in whey. Butter, blocks and Grade A nonfat dry milk were all unchanged without any trades taking place. Butter ended at $2.28 per lb., dry milk at 95 and three-quarters per lb. and cheddar blocks at $1.58 and a half. The block to barrel spread now stands a 1 and three-quarter cents per lb.
Grain markets watched corn add 3-4 cents per bu., soybeans were up 4 and a half cents and wheat grew by 1-3 cents. Cattle markets gained a half cent per lb., feeders were up a penny and hogs closed limit up for the 2ndday in a row.