Markets Witness Nice Gains
In closing out the week, product markets were mainly unchanged to slightly. Butter moved 7 loads Friday but closed at $2.25 cents per lb. This week’s average price on butter dropped three and a quarter compared to last. Both block and barrel cheese ended Friday’s session unchanged at $1.58 and barrels at $1.42 and a half per lb. One uncovered offer was left hanging in each market.
Nice gains were witnessed in average prices as blocks jumped 8 and three-quarters cents and barrels added 9 and three-quarter cents in it’s weekly average price. Blocks moved just six loads this week while barrels saw 20 change hands. Grade A nonfat dry milk gained a quarter cent Friday on two trades and 30 in total this week. Dry whey added 1 and a quarter cents on 11 trades. Friday but lost 3 and a quarter on its average price.
Class III markets began the session down 10 cents early but settled 4 cents higher to 6 cents lower all the way through 2019. The February-June average is offering producers $14.60 per cwt. while the second half is at $16.11 cents per cwt.
Class IV saw March Lose 7 cents and May down 3 cents, respectively. The first half of Class IV is showing producers a $16.05 price and the second half is at $16.82 per cwt.