Markets Mixed Over Week
Very few traders showed up for Friday's Class III milk trading session as just 115 contracts moved hands in February, the most traded month. 2018 months all ranged from 4 cents lower to a penny higher. February through June closed with an average of $13.79 per cwt. February through December is currently valued at $14.74 per cwt. Class IV milk had just August and September 2018 trade which resulted in August falling 30 cents and September down 3 cents.
CME spot product markets closed with barrels unchanged at $1.32 and blocks a quarter cent lower. No trades were made Friday in either cheese market but a couple offers did show up in each market. Butter added 3/4 cents to $2.13 with two trades taking place. Grade A nonfat dry milk dropped 3/4 cents to 71 cents after two trades and 12 offers. O
On the week butter traded 12 loads at an average price of $2.12, down 2 cents from last week. Nonfat dry milk moved 13 loads at 71 1/2, up a penny. Blocks fell 1 1/4 for the week to $1.51 1/2 on nine trades while barrels gained 2 1/4 this week to $1.34 1/2 on 20 trades.