September 25, 2019

Dairy Markets Mixed, Again

 |  By: Know Your Market

A mixed result continues to be the story in the dairy markets. Class III milk fell 1 cent in October to $18.09, November gained 6 cents to $18.08 and December gained 5 cents to $17.48. Fourth quarter average is at $17.88 per cwt. 2020 markets saw January – March vary from 5 lower to 5 higher and gives us an average at $16.60 per cwt.

Class IV milk didn’t see much action. Only change coming in October, falling 3 cents to $16.40 and December gained 1 at $16.70.

The CME spot markets saw similar results. Butter was unchanged at $2.14 ¼ per lb. with no trades, no bids, and no offers. Cheddar Blocks continued their slide. Dripping 5 ½ cents to $1.93 ¾ with 5 loads moving from seller to buyer, 1 bid and 3 offers. Cheddar barrels were unchanged at $1.61 ¼ with no trades, bids, or offers. Our block/barrel spread at 32 ½ cents.

Dairy powders continued the mixed trend. Grade A nonfat dry milk gained half a cent to $1.10 ¾ with 1 load moving, 6 bids, and 6 offers. Dry whey fell a penny and ¾ to $0.33 ¾ per lb. with 10 loads moving, 2 bids and 1 offer.

Grain and Feed markets treaded water. December corn fell half a cent to $3.74 ¼, but 2020 months were up slightly.  November soybeans fell 5 cents to $8.89 ¼ with soybean meal falling $2.20 to $293.20 per ton.