May 29, 2017

Market Takes Back Thursday's Gains

 |  By: Know Your Market

The market giveth and the market taketh away. That was the theme of Friday’s trade as cheese, which was up 5 ½ and 5 ¾ cents in the block and barrel trades the day prior, retraced 4 cents in the barrel trade to end at $1.48. Block cheese rose a penny and a quarter, the one and only product to remain higher on Friday finishing at $1.73 ¼.

Butter fell 2 cents to finish at $2.36. Nonfat dry milk was down a quarter cent to finish at 92 ¾ cents. That action left the weekly average price for nonfat dry milk at 92.8 cents, very near to Friday’s close.

Block cheese ended at an average price of the week at $1.68 ¼, with barrel cheese at $1.48 1/3. The butter market finished with an average trading price of $2.36 9/10.

Class III markets finished in red ink on Friday following the lackluster product performance with the average price from now through the end of the year at $16.89, down 13 cents. Class IV traded sporadically.