March 9, 2018

Powder Makes Positive Move

 |  By: Know Your Market

Grade A nonfat dry milk was the lone CME spot product to trade higher as we closed out the week. Nonfat dry milk added 3 3/4 cents and moved to 68 1/2 cents per pound. Butter fell 1 1/4 cents to $2.20 1/2. On the week a total of 23 trades moved and an average price of $2.21 3/4, down 2 1/2 from last week.

Barrels also fell 1 1/4 cents to $1.49 3/4. Blocks declined a penny and settled at $1.57 per pound. Blocks added 4 3/4 cents from last week's average price to $1.58 1/4. Barrels had 25 loads move this week.

Class III milk futures closed mixed Friday. March added 3 cents to $14.19 per cwt. April dropped 7 cents and May was down 4 cents. June through the end of the year closed unchanged to 4 cents higher. The 2018 April to December average closed today at $15.24 per cwt. Class IV markets saw just April through July with changed results and were 4 to 13 cents higher. The Class IV April through December average closed this week at $14.26 per cwt.