February 1, 2018

Class III Markets Post Double Digit Gains

 |  By: Know Your Market

Class III milk markets were able to hatch out double digit gains on Thursday, even with little movement in the product markets. January milk, which had a last trade of $13.88 per cwt, ended up settling at $14.00. February through June added 11 to 16 cents raising that period's average to $13.99 per cwt. July to October added 3 to 9 cents while November and December remained unchanged. The February through December average stands at $14.85 per cwt.

Class IV milk saw just February and March trade. Both months traded 6 contracts leaving February unchanged and March down 3 cents. The 2018 year on Class IV currently shows $14.18 per cwt. 

CME product market trading resulted in butter dropping 2 cents on Thursday. The final price came in at $2.12 1/4. Blocks were unchanged at $1.46 1/4, and barrels gained a quarter of a cent. Barrels settled at $1.32 1/4, and grade A nonfat dry milk moved a half cent higher to 71 cents per pound.