June 24, 2019

Milk Markets Continue Steady Climb

 |  By: Know Your Market

Class III milk was flat in nearby months but continued a steady climb for late 2019. June and July were unchanged at $16.30 and $17.08/cwt, but August gained 9 cents to $17.44 as did September to finish at $17.64/cwt. October- December gained 1-4 cents and they average $17.41/cwt. January - March of 2020 gained 3-4 cents to $16.63/cwt.

Class IV milk was also unchanged for June and July, finished at $16.86 in June and $17.10 for July. Second half average for Class IV milk is at $17.36/cwt.

The CME spot product trade showed some gains on limited volumes. Butter gained 1 ¼ cent to $2.40 ¼ with no loads trading hands. Cheddar Blocks moved 1 ½ cents higher on 10 trades to $1.84 /lb. with Cheddar Barrels losing 1 ¾ cents to $1.72/lb. on 2 loads trading.

Grade A nonfat dry milk lost half a cent to $1.04/lb. even with only 1 load moving from seller to buyer and dry whey gained a penny to $0.35 ¼ /lb. on 2 loads trading. 

Grain and feed prices rebounded Monday after some softening at the end of last week. July corn gained 4 ½ cents to $4.46 ¾, July Soybeans gained 6 ¼ cents to $9.09 even, and July soybean meal gained $2 to $317.60/ton.