January 30, 2019

Milk Markets Waiting For USDA Reports

 |  By: Know Your Market

Though the government shutdown has ended, it will take USDA a while to catch up on their reports and to return to normal. Today the USDA released the specific dates each report will be released for the next few months. 

The January 3rd Dairy Products report will be released on February 3rd and the January 23rd Milk production report won’t be released until February 20th.  Though we are traditionally due another report on February 21st, that milk production report will be pushed back until Feb 12th.

Class III milk was up today following a strong day in the cheese and butter market. First half Class III milk averaged $14.64/cwt and 2ndhalf at $16.27. Up in every month .02-.10. 

Butter finished the day at $2.92/lb  up ¾ of a cent. 

Cheddar blocks had a busy trading day with 5 trades pushing it 2 ½ cents higher to finish at $1.47. Barrels continued their upward momentum to gain 4 cents on the day and finish at $1.30 ¼. 

Powders didn’t follow suit. Nonfat Dry Milk fell a penny to finished ¾ cent above $1 even. And Dry whey lost a penny to finish at $0.39/lb.

With Record cold weather today in the Midwest and East, we are all thinking of our friends out in the barns taking care of the cows. Stay safe and protected out there.

For Commodity Risk Management Group, this is Jenny Wackershauser on Know your Markets.