October 24, 2018

Milk Prices Lose Big

 |  By: Know Your Market

The whey market found solid ground on Wednesday as two loads traded hands at an unchanged value, finishing once more at 47 and a half cents. This comes after the massive blows that it took on Monday and Tuesday’s trade to move 10 cents from its spot value in an effort to converge with nearby futures values. 


Unfortunately, cheese prices could not perform in the same manner. Blocks lost an additional half a cent after a handful of trades. It finishes at $1.47. Barrels dropped a penny and a quarter with 14 loads moving from seller to buyer. It now rests at $1.20 and three-quarter cents. That is just a half a cent better than the lowest price offered all year. 


Grade A nonfat dry milk was unchanged on Wednesday, a single load traded. It finishes at 87 cents. Butter brought the only optimism to the spot trade, rising a penny and three-quarters after seven loads to finish at $2.21 and a quarter cents. 


Class III milk finished lower with the fourth quarter average of 2018 dropping 14 cents to $15.10. The first half of 2019 now finds itself at $15.30 for a price 13 cents lower than Tuesday and nearly 50 cents lower than last week at this time. Class IV market site activity in Wednesday's session. The balance of 2018 now rest set an average price of $14.86 down 15 cents from Tuesday. The first half of 2019 fell 16 cents to come to a final average of $15.15.

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