Mixed Markets Make A Mess
The CME spot product market was mixed as 4 of the 5 products offered traded. Butter traded 1 time and lost ¼ of a cent finishing at $2.29. Blocks saw the most movement on Thursday gaining 2 ¼ cents while trading 3 times and settled at $1.49 1/4 cents/lb. Barrels traded 17 times during the session and finished unchanged at 1.30 1/4. Grade A non fat dry milk lost ¾ of a cent at $1 even. And lastly Dry Whey was unchanged at 39 cents.
Class 3 markets were mixed with most months showing losses. For the front months, February gained 2 cents at 14.05 march lost 10 cents at 14.36 and April lost 7 cents at 14.57. June through September traded anywhere from 13 cents lower to 5 cents higher. January’s official settlement was at 13.96 leaving the first and second half averages now at 14.57 and 16.31.
Class 4 markets were mainly lower in the front months Feb through June traded 3 cents lower to 3 cents higher and September through November traded 1 to 4 cents lower. The rest were unchanged.