Dairy Prices Erode
The dairy space watched prices erode again in product and milk. Butter settle unchanged but moved 24 lads ending at $1.80 per lb. Cheddar blocks saw two unfilled offers show up with the market declining 4 and a half cents to $1.82 per lb. Barrels closed unchanged at $1.58 and a half with solid volume of 15 loads changing hands.
The block to barrel spread further tightened to 23 and a half cents per lb. Grade A nonfat dry milk lost 2 and ¾ cents on Friday with prices settling out at $1.17 per lb. Whey prices softened 2 and a quarter cents to 37 cents per lb. Good volumes traded all week long with butter trading 48, barrels moving 31 and Grade A nonfat dry milk exchanged 36.
Barrels put together the best week as it gained 9 cents per lb. while butter had the worst performance of the week losing 6 cents per lb. Class III prices softened 2-12 cents per cwt. out through the end of 2020. Class IV too it on the chin even more softening 6 to 17 cents per cwt.