Milk Markets Continue to Sing Higher Tune
The CME Spot product market was mixed on Friday as 4 of the 5 products traded. Butter rose 1 cents to finish at $2.27 cents on Friday averaging $2.26 for the week. Blocks fell ½ a cent to $1.68 ½ averaging $1.67 for the week, up once cent from last week. Barrels finished unchanged at $1.63 cents/lb which leaves it at $1.60 for the week up 3 cents from the week prior. Grade A non fat dry milk rose 1 cent to $1.04 cents averaging 1.02 cents and Dry whey fell ¼ of a cent to 32 ¾ cents finished the week off with an average of 33 cents.
Class 3 market was mixed as well trading anywhere from losses of 1 cent to gains of 5 cents. April fell 1 cent to 15.97, May settled up 3 cents to 16.32 and June settled up 2 cents to 16.39. The 2nd quarter average is 16.22 and the 2nd half average is now at 16.74.