August 13, 2019

Dairy Markets Continue Quiet Trade

 |  By: Know Your Market

Dairy markets continue their quiet trade on Tuesday as feed prices were mixed. Cheese held steady again in the CME spot product trade. Both Cheddar blocks and barrels were unchanged with no loads trading and no bids or offers. Holding their prices at $1.86 ¾ on barrels and $1.72 for blocks. Butter was again higher, gaining a quarter of a cent to $2.34 per lb. with 3 loads moving. 

Grade A nonfat dry milk fell half a cent to $1.02 ¼ with 4 loads moving from seller to buyer. Dry Whey moved 1 load but was unchanged at $0.35 ½ lb. 

Class III milk fell 1 cent in August to $17.60, September fell 5 cents to $17.73, and October fell 6 to $17.72. The second half average fell to $17.50 per cwt.  2020 markets also fell 4-6 cents for January – March with an average price of $16.55 per cwt.

Class IV milk was also weaker on Tuesday. August fell 1 to $16.59, September fell 5 to $16.73 and the August – December average for Class IV milk is at $16.83 per cwt.

Grain markets were mixed as we continue to digest the USDA report from Monday. December corn fell another 16 ½ cents to $3.76 ½, but November beans gained back 9 ¾ cents after following the corn market on Monday to finish at $8.89 even. August soybean meal also gained $5.90 to $297.80 per ton.