Markets Trend Lower to Finish Out 2018
The CME Spot Product Market was lower on Friday while only three of the five products offered traded.
With the most movement of Friday, butter fell 4 and ¼ cents to $2.20 and ¾ cents. Per lb. Blocks were unchanged at $1.35 per lb. Barrels lost 2 cents and finished at $1.22 and ¼ cents per lb. Grade A nonfat dry milk fell ¾ of a cent to 88 and ½ cents per lb. Lastly, dry whey was unchanged at 43 and ¾ cents per lb.
Butter and dry whey were the only products to see gains in the weekly average from the week prior. Class III markets were lower in December of 2018, loosing 2 cents to $13.76. 2019 markers were mainly lower losing 1 to 10 cents in the front months and 1 cent gains towards the second half.
Class IV markets were mainly unchanged in the most months although gaining 1 to 16 cents in July to December in 2019.
Grain markets were in the green on Friday as wheat mainly drove the market. The wheat complex was up 14 to 15 cents in Chicago, 14 to 16 cents in Kansas City and 8 to 12 cents in Minneapolis. December corn gained 2 cents on the day settling at $3.74 and January beans rose 7.2 cents to $9.16.