September 29, 2019

Milk Moves Higher While Grains Step Lower

 |  By: Know Your Market

Cheddar finished the week higher on Friday. Cheddar blocks gained 5 ¼ cents to $1.95 1/2 with 5 loads moving with Barrels following closely behind, also trading 5 loads gaining 4 ¼ cents to $1.65 ½. Our cheddar average is at $1.80 ½ per lb. Despite the nice gains Friday, the weekly average cheddar price fell 16 cents from last week. 

Butter was unchanged at $2.14 ¾ with 2 loads moving form seller to buyer with the weekly averaging moving a penny higher than last week. Dry Whey was our volume mover, 15 loads traded moving the price ¾ of a cent higher to $0.34 3/4. Grade A nonfat dry milk gained a quarter of a cent to $1.11 even with 5 loads moving. 

Class III milk followed Cheese. September was unchanged as it winds down the trading month at $18.28, October gained 25 cents to $18.15, and November gained 19 to $18.14 per cwt. 2020 markets saw gains of 5-6 cents in Jan- March to average at $16.67 cwt.

Class IV milk was unchanged in Sept at $16.36, Oct gained 2 to $16.42, and November gained 7 to $16.68 per cwt. 

Grain and feed took a small step lower. December corn fell a penny to $3.71 ½, November soybeans fell 5 ½ to $8.83 even, and Soybean meal fell $0.90 to $289.90 per ton.