Markets Take The High Road
The CME spot product market was mainly higher on Friday as 4 of the 5 products traded.
Butter was the only product that didn’t trade and was left unchanged at $2.24 making the average of the week just north of $2.25. Blocks had the least volume of the week only trading 3 times and finished Friday up 1 ¼ to $1.40 making the weekly average just over $1.40.
Barrels bounced off its lows from yesterday and rose 1 ½ cents finishing the week at $1.20. Barrels average for the week was $1.20 ½. Grade A Non-Fat Dry Milk saw the most action on the week trading 15 times and rose ¼ of a cent on the day to finish at $1.03, just below its high on Tuesday at $1.04 ½. The weekly average is $1.03 1/2. Dry whey lost 1 ½ cents to finish at .50 ½ making its weekly average just above .51 cents.
Class III markets were mainly mixed trading 7 cents lower to 10 cents higher. January closed down 1 cent to $13.99.
Class IV markets were also mixed trading 16 cents lower to 13 cents higher. January was unchanged at $15.51.