Positive End To The Week Across The Dairy Complex
Friday brings more positive moves in the dairy complex. Butter proves to be our volume leader this week with 84 total loads moving but price slowly slid lower. Friday’s CME spot trade had butter falling 2 ¼ cents to $1.83 ¼. Cheese saw both blocks and barrels moving higher – blocks gained 3 ½ to $1.93 per lb. with no loads trading and barrels gained 1 ¼ cents to $1.47 ¾ per lb. with 10 loads trading. Barrels had 40 loads trade hands during this week’s spot market.
Powders continued their move higher – nonfat dry milk gained a penny to $1.25 per lb. with 1 load moving, and whey failed to move a single load this week – but gained a penny to $0.39 per lb.
Class III milk gained 9 to $17.06 in February, March gained 19 to $17.42, and April gained 21 to $17.50 per cwt. March milk gained 47 cents this week off of its low of $16.97.
Class IV milk fell a penny in February to $16.57, but March forward saw gains of 2-11 cents. The first half average sits at $16.69 per cwt.
Corn gained 4 ¼ cents to $3.83 ¼, March soybeans made a late move to gain a penny to $8.82 even, and soybean meal gained $1.10 to $289.30 per ton.