Class III Markets Post Double Digit Gains
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.