October 14, 2018

Dry Whey The Lone Survivor Of Friday’s Market

 |  By: Know Your 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.