Dairy Markets Pick Up Speed
The CME Spot product trade was mainly higher on Wednesday as 4 of the 5 products traded. Butter was the only product unchanged at $2.28. Blocks rose 1 cent after 5 trades to $1.53 cents/lb. Barrels traded 11 times and finished up 2 ¼ cents to $1.42 1/2 cents/lb. Barrels have been trying to hold the 140-145 range since the middle of February. Grade A non fat dry milk rose ¼ of a cent to 96 ½ cents. And lastly dry whey was the only product down during the session, finishing at 33 ¼ down ¾ of a cent.
Class 3 markets were slightly mixed on Wednesday trading anywhere from 6 cents to lower to 2 cents higher. March finished 1 cent lower to 14.91, April lost 3 cents to 14.95, and may fell 6 cents to 15.19. The remainder of the months were mixed to unchanged. The remainder of the first half average is now at 15.14, and the second half average is at 16.26.
Class 4 markets were mainly lower to unchanged trading anywhere from 1 to 5 cents lower.