February 12, 2019

Markets Begin Their Uphill Climb

 |  By: Know Your Market

The barrel cheese market was able to add another penny to its price Tuesday following a single bid in the market. Barrels settled at $1.41 and a quarter per lb. while blocks were unchanged at $1.56 per lb. Butter lost 1 and a half cents to $2.25 and a half on four uncovered bids and three offers.


Grade A nonfat dry milk added a quarter cent to $1 even while dry whey softened another half cent to 35 cents per lb. Eight loads were moved in the dry whey market. Milk prices were primarily higher all day. 


February traded a penny higher to $14.00 per cwt. March jumped 16 cents to $14.88 per cwt. Over the last six sessions April grew 10 cents to $14.85 and the remaining months ranged from even to 7 cents higher. Class IV milk had February milk a penny lower at $15.92 per cwt. March and onward ranged from a penny lower to 11 cents higher in September. 


In the grain markets, corn gained 5 and a quarter cent to $3.78 and a quarter in the March contract and $4.02 per bu. in December. Soybeans also jumped 12 and a half cents to $9.17 and half. New crop beans ended at $9.60 per bu. Wheat ranged from a couple cents lower to a penny higher.