March 3, 2019

Markets Change Their Coarse

 |  By: Know Your Market

The dairy markets closed off the week in a mixed fashion. Product markets saw butter gain 2 and a quarter cent to $2.28 and three-quarters per lb. Cheddar blocks and barrels were both unchanged at $1.61 and $1.41 respectively. Grade A nonfat dry milk lost a quarter cent to 98 and a half cents per lb. and dry whey added 1 and a half cents to 36 cents per lb. following seven traded and nine bids. 


Dry whey was the most active market this week as 47 loads were traded followed by 30 trades taking place in the cheddar barrel and Grade A nonfat dry milk markets this week. All markets were relatively float in price compared to a week ago ranging from on average weekly trade price of 1 and a half cents higher to a half cent lower.


Class III markets were softer Friday. February’s announced priced ended up at $13.89 while March-December ended even to 7 cents softer. Class IV was unchanged with the exception of October losing 2 cents and December adding 3 cents. 


Grain markets experienced quite the reversal on Friday. After being 5 cents lower in corn, 8 cents in soybeans and 12 cents lower in wheat, markets altered courses and settled 2 cents higher in corn, 1 and quarter cents higher in beans and 2 cents lower in wheat.