Cheese
September 16, 2020

Markets Rebound As Cheddar Blocks Jump Higher

 |  By: Know Your Market

The CME spot Trade had Cheddar blocks trading 11 ¼ cents higher with 1 load trading hands to $2.32 ¾. Barrels gained a penny to 1.61/lb with 2 loads moving. The Block barrel spread continues to widen at record levels – 71 ¾ cents today. Butter failed to move a load after one of the highest volume trades on Tuesday. Price still gained half a penny to 1.51/lb. 

Grade A Non Fat Dry milk moved 1 load to  gain ¾ of a cent to $1.06 ¾. Dry whey moved 2 loads and was our only product to move lower on Wednesday, falling ¾ of a penny to $0.34/lb. 

Class III Milk fell 3 in Sept to 16.30, but gained 22 in October back to 18.89, and November gained 24 cents to 17.60. 2021 was 1-14 cents higher.

Class IV milk also jumped – September gained 1 to 12..65, Oct gained 16 to 13.67 and November gained 15 to 14.23/cwt. 2021 moved even to 11 cents higher

Grain markets jumped higher – Soybeans continue to lead the march – gaining 19 ¾ cents to $10.11 ¼, Corn gained 5 ¾ cents to 3.71 ¾, and soybean meal gained $6.50 to 320.80/ton.