No Fooling The Markets
Following a sizable move through the month of March, sellers of product would not be fooled as they brought offers to the table on this first business day of the new month. Butter dropped a half a cent with a single load moving from seller to buyer to finish at $2.25 cents a pound. Barrel cheddar was the biggest loser of the session dropping a penny and a quarter to $1.59.
Four loads traded hands. Block cheddar also moved four loads from seller to a buyer. It falls a half cent to $1.64.
The spread between block and barrels now stands at just a nickel. Grade A nonfat dry milk dropped a quarter cent to finish at 96 cents a pound. A single load traded hands and dry whey was the loan to center. It also had the greatest volume moving six loads from seller to the buyer. It rose three quarters of a cent to 33 cents a pound.
Class three markets seemed unmoved by the transactions. In the end, Class III prices were up
single digits through the course of 2019 with the second quarter average now at $15.65 per cwt. up six cents from Friday while the third quarter was $16.29 at the end up three cents over Friday with fourth quarter averages now at $16.36. A penny better than the previous finish, Class IV markets saw similar action. The average price in the second half of the year is up a nickel to $16.74.