March 11, 2019

Dairy Markets Start The Week Off Yawning

 |  By: Know Your Market

The dairy markets began this week as a yawner with little activity taking place. 


Product markets were mainly unchanged with just blocks and barrels moving Monday. Cheddar blocks lost 1 and half cents following seven trades to $1.52 per lb. Barrels added a quarter cent on a single bid to settle at $1.36 and three-quarter cents per lb. Butter, Grade A nonfat dry milk, and dry whey were all unchanged. 


Class III milk markets were 4 cents lower in March, even in April, and 1-4 cents higher May-December 2019. Second quarter prices are averaging $15.09 per cwt. The 2ndhalf closed at $16.22 per cwt. Class IV markets were 3-7 cents softer in the 2ndand ended at $16.06 per cwt. The 2ndhalf was all left unchanged at an average price of $16.66. 


Another round of selling to effect on the grain side of things on Monday. Corn lost 2 cents and ended at $3.62 for May and $3.86 and half on December new crow. Beans weakened 5-6 cents per bu. while wheat led the downturn once again, softening 10-11 cents in both Chicago and Kansas City while Minneapolis feel 3 cents per bu. 


Livestock markets closed with fat cattle down 70 points, feeders lost$1.70 and hogs jumped $2.