Markets Hushed After Noisy Week
The CME spot product trade on Thursday fairly quiet. All 5 products traded but both blocks and barrels were unchanged. Blocks traded 1 time and were left at $1.66 cents/lb. Barrels had the most volume of 7 trades and were left at $1.57 cents/lb. Butter finished up ¼ of a cent to $2.25 ½ cents./lb. Grade A non fat dry milk saw the most movement as it rose 1 ¼ cents to finish at 98 ¾ cents. Lastly dry whey fell ¼ of a cent to 34 ¼ cents.
Class 3 markets were mixed trading anywhere from 4 cents higher to 2 cents lower. The beginning of the session started off strong but after the spot trade, the market tapered off. April finished up 1 cent to 15.81, may finished up 4 to 15.71 and June finished up 3 to 15.83. the 2ndquarter average is 15.78 and the 2ndhalf average is 16.36.
Class 4 markets were mixed as well trading anywhere from 3 cents lower to 3 cents higher in the months of may through October.