April 17, 2020

Dairy Markets See Some Positivity To End The Week

 |  By: Know Your Market

The dairy complex across the board was higher on Friday. 

Butter added 2 and three quarters cents and ended $1.18 and three quarters per pound. Blocks traded two times and a half cent higher to $1.01 and a quarter. Barrels were also half cent stronger to $1. 50 per pound.  Dry whey closed at 39 cents, up one and a half cents on a single load moving from seller to buyer. Grade A non-fat dry milk lost a half cent to 85 and a half, following five trades. 

Class III milk added 3 to 7 cents May through July. August to December prices jumped 11 to 15 cents as well. Class IV reacted positively also. After three weeks of extreme volatility, Class III and IV prices were relatively stable, trading and 20 cent ranges for the most part. Second half of 2020 prices on Class III are trading at $15.25 cents per cwt. 

The grain sector close Friday with wheat and corn in the green corn at 2 and a half cents and wheat range even to 8 cents stronger. Soybeans continue to disappoint traders, falling another 4 cents per bushel.