Peeling Back The Market’s Gain
The market giveth and the market taketh away. That was the story of the barrel trade on Monday as 11 and ½ cents were peeled back off of the recent rally. Only five loads traded, but prices fell back to $1.40 and ½ cents, widening the spread between blocks and barrels back to 10 and ½ cents. Blocks, amid all the excitement, did nothing. There were no trades, it did not change. It finishes again at $1.52.
That was the story for whey as well, finishing once more at 42 and ½ cents. Butter and powder worked in opposite directions. Butter rose ¼ cents to finish to $2.26 and ½ cents after three loads were tendered. Grade A nonfat dry milk dropped ¼ cents on a single load moving from seller to a buyer, 81 and ½ cents is its finish.
Class III markets, in the wake of all of this, did very little. Nearby prices were the hardest hit with August down 8 cents. Elsewhere, prices were either higher or lower. In the end average price for the period of August through December finished at$15.80, up 4 cents the average was able to add another penny to its price it now stands at $16.06. Class IV markets saw little activity they finished on change with the balance of the year averaging $14.96 and the 2019 average still holding $16.19 per cwt.