Milk Markets Continue to Hibernate
Milk markets began this week in a lower fashion following Friday’s selloff of 20 cents per cwt. March lost 2 cents per cwt. to $14.92 while April fell another 13 cents to $14.75 per cwt. Beyond April, milk prices declined 2-8 cents per cwt. The March-June average now stands at $15.02. The 2ndhalf is offering $16.15 per cwt.
Class IV markets had little change with May 5 cents stronger, September 7 cents lower and November down 3 cents. The March-June 2019 average closed Monday at $15.99 while the 2ndhalf ended at $16.65 per cwt. respectively.
Product markets watched whey prices fall another 2 cents to 30 cents per lb. following five trades, three bids and two offers. Butter added a half cent to $2.28 and a half cent following a single trade while blocks, barrels and Grade A nonfat dry milk were all unchanged. Blocks settled at $1.56, barrels at $1.49 and a quarter and dry milk at 96 and three-quarters per lb.
The hog market has continued to serve as the most exciting market to watch as of late. With confirmed African Swine Fever cases in China mainly, other Asian countries and European nations hogs have now jumped $19 per cwt. in the last four weeks. The African Swine Flu has also led to the weakness in dry whey as less piglets will require whey protein.