September 26, 2019

Milk Markets Follow Cheddar Blocks Lower

 |  By: Know Your Market

Dairy markets softened again on Thursday continuing to follow Cheddar Blocks. Blocks fell 3 ½ cents to $1.90 ¼ with no loads trading, no bids and 4 offers. Cheddar barrels continue to hold unchanged at $1.61 ¼ also with no trades and only 1 bid. The block barrel spread narrowed to 29 cents. 

Butter gained half a penny to $2.14 ¾, Grade A nonfat dry milk was unchanged at $1.10 ¾ with the only trades of the day; 3 loads moved, 3 bids, and 4 offers. Dry whey gained a quarter of a cent to $0.34 per lb. but failed to move a load and had 3 bids and 1 offer.

Class III milk slid lower. September gained 2 cents to $18.28, October fell 19 to $17.90, the same point we were trading on September 9th. November fell 13 to $17.95 per cwt. 2020 markets fell 4-11 cents and the first quarter averages at $16.51 per cwt.

Class IV milk only saw a few months move. September gained 5 to $16.38 and November fell 2 cents to $16.61. Fourth quarter class IV milk is averaging $16.57 per cwt. 

Grain and feed were slightly lower. December corn fell 1 ¾ to $3.72 ½, November soybeans fell ¾ of a cent to $8.88 ½, and soybean meal fell $2.40 to $290.80 per ton.