Class III Moves Higher, Class IV Falls
The Class III dairy markets found another bid on Thursday as February jumped 21 cents, March was up 25, and April gained 15. May also traded 7 cents stronger and June was up a penny. Second half 2020 ranged from even to 5 cents lower. Class IV markets watched March through may fall 9-15 cents per cwt.
The CME spot dairy auction had minimal changes on Thursday. Butter added a quarter cent to $1.86 ¾, 3 trades took place. Cheddar blocks were unchanged at $2.25 per lb. Barrels moved 6 loads and a half cent higher to $1.63 per lb. Grade A nonfat dry milk lost ¾ of a cent to $1.29 per lb., 10 loads moved from seller to buyer. Dry whey had another solid round of volume moving 22 loads, whey closed at 36 cents per lb., up a quarter cent.
The USDA released its December milk production report on Thursday. Milk production was reported beneath most expectations as production rose just 7/10 of a percent. Many Midwest states were down once again year over year, 3 states that continue to put out milk included Texas, Colorado, and Kansas. The milking herd totaled 9.339 billion in December which was unchanged from November after accounting for a revision in November.