February 5, 2019

Dairy Markets Drop Down Once Again

 |  By: Know Your Market

Low volume of trading on dairy products led to a lower market trend Tuesday. CME spot trade had butter trading 9 times to fall half a penny to finish at $2.27 ¾ / lb.

No Cheddar Blocks traded and there was only one offer that dropped the price 3 cents to end the day at $1.45 ¾ /lb.

Cheddar barrels had 4 trades on the day and lost half a penny to finish at $1.29 ¼ /lb. We continue to watch barrels closely as we have growing inventories. Prices have rallied each of the last 7 months, to then slowly recede back as the month ends. 

Powders had a mixed day on Tuesday. Non Fat dry milk losing one cent to finish at $0.98/lb even.

Dry whey was up ¾ of a cent to $0.37 ¾ cent/lb.

Class III milk was weaker following the trend set by the spot products market. February- June averaged in at $14.60/cwt and July – December at $16.18. Down 1-14 cents 

Class IV milk had limited trades to hold steady. It still trades higher than Class III with a first half average of $16.18/cwt and Second half at $16.72. For Commodity Risk Management Group, this is Jenny Wackershauser on Know your markets.

This block is broken or missing. You may be missing content or you might need to enable the original module.