Trends
April 16, 2019

Markets Continue to Look Brighter

 |  By: Know Your Market

The Global Dairy Trade Event 234 was held Tuesday morning and continued the positive trend we have seen since December. Overall the Price index rose ½ of a percent, but the dairy product individual prices were mixed.

Butter index rose 3.5% from two weeks ago. Cheddar cheese index was up 1.4% and skim milk powder was up 2/10 of a percent. Whole milk powder fell 7/10 of a percent, Rennet Casein was also down 2.4% along with Lactose falling 3.4%.

Class III milk showed early weakness during Tuesday’s trade, but made a turn to the positive after the CME spot product trade.  April Class III was up 6 cents to $15.95 and May was down 2 to $15.63. Class IV milk was up 2-7 cents. May Class IV finished the day at $16.20/cwt

The quiet Class III trade reflected a slow CME Spot Dairy Products trade. Butter gained 1 ¼ on 3 bids and no trades to $2.27/lb. Cheddar Blocks gained ¾ of a cent on 3 trades, but Cheddar barrels were unchanged with no trades and only 2 offers to end the day at $1.59 ¾

Grade A Non Fat Dry Milk and Dry whey were both unchanged with no loads changing hands. Non Fat Dry Milk ended the day at $0.98 3/4/lb and Dry whey at $0.34 ¾ .

For Commodity Risk Management Group, this is Jenny Wackershauser on know your markets

This block is broken or missing. You may be missing content or you might need to enable the original module.