September 10, 2018

Class III Prices Up By Double Digits

 |  By: Know Your Market

Across the ag space on Monday most commodities closed in the green with the exception of lean hogs.  Hogs declined $1 per cwt. Corn gained a quarter cent, while soybeans added 1 ¼ cents per bushel. Soybean meal was also up $1.50 per ton. The wheat market was the leader of the pack on grains as Chicago wheat jumped 17 cents, 18 in Kansas City and Minnesota was up 10 cents. 

Spot product markets on Monday had butter up to 2 ¾ cents to $2. 2575 following six trades and four bids. Cheddar barrels moved 2 cents higher to $1. 52 per pound, while blocks added another ¾ of a cent to $1. 67 per pound. Dry whey was unchanged at 51.5 cents. Grade A nonfat dry milk lost a penny and closed at 90 cents per pound. 

Class III milk markets follow the product markets higher. Fourth quarter prices, we're up double digits while 2019 was up 2-8 cents. Class IV markets were up slightly as well.