Class III Milk Starts With A Bang Before The 4th
Class III milk markets jumped to begin this week.
July added 18 cents while August led the pack moving 31 cents higher to $17.90 per cwt. September through November grew 14-17 cents while December was up 5 cents. The second half of 2019 ended Monday with an average price of $17.70 per cwt. 2020 priced traded 5-10 cents higher as well. First half 2020 prices closed at $16.75 per cwt. average.
Class IV markets traded slightly lower. September dropped 7 cents while all other months settled even to 3 cents softer. CME spot product markets had the cheddar barrel market down a penny following 2 trades at $1.78 per lb. Blocks gained three-quarters of a cent to $1.86 and a half on three loads moving from seller to buyer.
Butter and Grade A nonfat dry milk remained unchanged. Butter settled at $2.41 per lb. while dry milk was at $1.05 per lb., respectively. Dry whey lost a half cent to 33 cents per lb. following a single trade Grain markets continued their downward trade on Monday following Friday’s bearish report. Corn lost 9 cents and fell to $4.22 and a half per bu. Soybeans dropped 14 and a half cents for November while the wheat complex declined double digits as well.