May 28, 2020

Milk Prices Hit The $18 Mark

 |  By: Know Your Market

June milk makes a new contract high during trading on Thursday – touching at $18.04 as Block buyers continue to search for loads. The CME spot trade saw Cheddar Blocks jump 8 ¼ cents to 2.13/ton but still failed to get a trade, bid or offer. Barrels only moved half a penny higher to 1.93 with 8 trades, no bids and no offers left.

Butter gained a penny and a quarter to $1.25/lb with no loads trading, no bids and no offers. Grade A Non Fat Dry milk gained half a cent to $1.03/lb with 6 loads trading hands. Dry whey was our lone market to move lower, losing a penny to $0.31/lb with 10 loads moving from seller to buyer.

Class III milk was mixed and losing some steam. May fell 4 to $12.19, June fell 3 to 17.90 and July gained 5 to 17.20/cwt. The balance of 20200 moved from 6 lower to 1 higher and average at $16.50/cwt. 

Class IV milk was unchanged in May at 10.71, June fell 7 to 13.13, and July gained 16 cents to 14.36/cwt. Balance of 2020 was unchanged to 3 higher, averaging at 14.88/cwt