November 5, 2018

Dairy Markets See Little Movement

 |  By: Know Your Market

Much smaller trading volumes are seen in the CME dairy and spot product markets on Monday when compared to the highly volatile and liquid trade of last week. Five loads of dry whey were exchanged between sellers and buyers, as its price rose a quarter cent to 44.75 cents per pound. The only other product to see any trading action was Grade A nonfat dry milk as it lost 1.25 cents falling one trade and nine uncovered offers pushing the price down to 88.75 per pound. Butter decline 1.25 cents on five offers and closed at $2.2875 per pound.


Cheddar blocks and barrels were both unchanged on Monday as neither traded. Blocks ended any than $1.4575, while barrels remained at $1.34 per pound. Class III and IV markets were softer. Class III Nov softened 8 cents in December 13, respectively. January through May declined 3 to 8 cents. Well a June onward was unchanged Class IV markets had November a penny higher and December five cents lower. 2019 ranged between 8 and 14 cents weaker.


In the grain markets, corn turned 2.5 cents higher, soybeans lost two cents and the wheat complex finished a penny higher to a penny softer. Cattle markets broke out of its recent trading range to the bottom side. Fat cattle lost 1.5 cents, while feeder cattle were down three cents per pound.


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