Dairy Markets Mixed, Cattle Markets Continue Rally
Class III markets were caught in a mixed session on Wednesday as markets traded both higher and lower through the course of 2017. January was up 11 cents, February down 8 cents, March down 7 cents and the balance of the year trading either side of unchanged.
That followed an equally mixed cash session. Blocks and barrels found follow through from the Tuesday move higher with blocks up a penny and a half after a single bid moved the market. Barrels were up another penny after two trades. Grade A powder was up a penny as well, three trades took place and the market left a bid at the end. Butter was the lone detractor with prices moving 2 and 3 cents lower.
In the wake of that, Class IV milk markets found little activity with the month of February being the loan trader, down 15 cents.
Something we don’t talk about much is the cattle market, which on Wednesday continued an impressive three month rally that has led the front month of February back to the highest prices witnessed since last March. Despite discounted Holstein prices this is good news for cull cow prices.
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