Dry Whey The Lone Survivor Of Friday’s Market
CME product market on Friday were all lower except for dry whey. Dry whey closed unchanged at 56 cents per lb. Cheddar blocks dropped 4 cents to $1.61 per lb. following 2 trades, 1 uncovered id and 3 offers. Cheddar barrels lost a penny despite no trades.
Barrels settled at $.136 per lb. after 6 bids and 4 offers. Butter traded 5 loads but declined 1 and ¾ per lb. to $2.25 per lb. Grade A nonfat dry milk weakened a quarter cent to 86 and ¾ after 3 trades.
Class III milk results had October 2018 down 5 cents per cwt. and November and December were even on the day. The 2019 prices ranged from 0-7 cents higher on Friday. Class IV markets were down 3-7 cents. 2019 Ranged from a penny higher to 3 cents lower.
Grain markets followed up Thursday’s post USDA report with another round of gains. December 2018 corn settled at $3.73 and 6/10ths, up 4 and half cents on the day. Friday marked the first time since August 21stthat the front corn month settled above $3.70 per bu.
Soybeans added 9 and a quarter cent to $8.67 and a half while soybean meal traded $1 per ton higher. Wheat markets finished 9 cents higher in Chicago, 10 cents in Kansas City and up 6 cents in Minneapolis.