Class III Moves To Higher Ground
While the market continues to wait for word from the White House as to our stance on adding to Chinese tariffs, the story of the day rested in barrels.
Barrel cheese fell another 5 and three-quarter cents, adding to Thursday's 8 and a quarter cent drop, falling back to $1.50, a price not witnessed since early August. Block cheese rose a penny and three-quarters offsetting some of Thursday's 6 cent loss. Returning back to $1.66 and a quarter after a single load traded hands. Butter rose 4 cents to $2.23 after two loads traded hands and whey, yet again, set another record moving a half cent higher to 51 and a half cents. Grade A nonfat dry milk fell a penny to finish the week at 91 cents.
Average prices for the week are as follows: butter $2.20 and the third, block cheddar $1.68, barrel cheddar $1.58 and a half, Grade A nonfat dry milk 91 cents, and dry whey 50 and three-quarter cents.
Class III markets started the session softer but then returned to higher ground. As we close out the week the average price from now through December rest set $16.41 up 6 cents from Thursday sell off. The 2019 average finishes the week at $16.23, 4 cents over Thursday. Class IV markets saw little action with their averages rising a penny.