Markets Make Positive Move Upward
All CME spot product markets were higher on Monday.
Butter led in a big way as it jumped 5 1/4 cents to $2.22 1/2 per pound. Ten trades, seven bids and ten offers showed up in a very active butter session. Blocks added 3 cents and settled at $1.52 1/2 per pound. Barrels gained a penny and closed at $1.47 per pound. Grade A nonfat dry milk managed to move 3/4 of a cent higher to 68 cents per pound.
Class III milk markets reversed course from early losses to a higher finish. February added two cents to $13.44 per cwt. March through June increased 5 to 10 cents while the second half ranged from 5 cents lower to 5 cents higher. The second half of the year closed at $15.67 per cwt. January 2019 traded 2 cents higher to $15.56 per cwt. Class IV milk markets saw little change despite the higher butter market. May was up 5 cents while July gained 9 cents.