Class III Up a Nickel
Hearts go out to dairy producers across northern and central Wisconsin where several barn roof collapses took place following more than two feet of snow fall from this past weekend's winter storm.
The market did its part to not add insult to injury for these producers. The lower product trade that defined the final days of last week's trade came to a halt on Monday as products slammed on the brakes to remain unchanged in four out of the five CME spot dairy offerings. Butter was the loan dissenter dropping 1/4 cent to to $2.28 1/2 after two trades took place.
Everything else remained unchanged. Blocks finished again at $1.60 1/2. Barrels are at $1.46, they traded seven times. Grade A nonfat dry milk also was unchanged at 73 1/4, three loads traded hands. Dried whey was unchanged again at 30 1/2 cents.
The absence of selling pressure in the products invited buyers back to the Class III market where the average price from now through the end of the year finished a nickel higher at $15.65 per cwt. As usual Class IV remained unchanged finishing at $14.78 in its average from now through the end of the year.
A look forward in the week reminds us that the USDA milk production report comes out on Friday at two o'clock central time.