July Class III Down Almost $1
This week marks the close the July and the beginning of August, and with that we receive the release of class and component prices from USDA. On Wednesday USDA announced Class III milk price for July at $15.45 per cwt. Class IV prices came in at $16.60, which was built on a butterfat price of $2.95, a nonfat solids price of 72 ½ cents, protein at $1.22 ½ and other solids at 26 cents per pound.
As we begin this new month we turn our attention to the impact product prices have on future announcements.
In the CME spot trade on Friday butter dropped ¾ cents to finish at $2.73. Blocks dropped 3 1/3 to $1.69 ¾ while barrels finished at $1.53, a penny lower than Thursday. Grade A nonfat dry milk was unchanged at 86 ¼.
The weeks average prices were as follows:
- Butter $2.71
- Blocks $1.74 ¼
- Barrels $1.57 ¼
- Grade A nonfat dry milk 86 ½ cents
Friday’s Class III milk prices fell once more on the lower cheese trade to finish at $16.77, down 9 cents per cwt. Class IV markets stayed unchanged at $17.04 as an average for now through December.