Dairy Products Trade Mainly Lower
The CME Spot Product trade as mainly lower to end the week as 4 out of 5 products traded. Butter was the only product showing gains as it rose 1 cent to finish the week at $2.26 ¾. Butter averaged just over $2.28 cents on the week which was roughly 2 cents higher than the week prior. Blocks fell 1 ¾ cents during the session and averaged $1.56 cents which was 4 cents lower than last week. Barrels saw the most action falling 6 ¼ cents to prices we haven’t seen since early February. Barrels averaged the week at $1.42 cents up 1 cent from last week. Grade A Non fat dry milk was left unchanged at 97 ½ averaging 97 ¾ for the week. Dry whey fell 1 cent to 34 cents averaging just over 34 cents for the week.
Class 3 markets saw a similar move trading anywhere from 5 cents higher to 18 cents lower. The first half saw most of the losses, march fell 12 cents to 14.97, April fell 18 cents to 14.80 and may lost 11 cents to 15.03. The remainder of the first half average is now at 15.05 and the second half average is 16.20.