Prices Take A Tumble
After seeing large gains in past sessions, class 3 markets took a tumble during the trade on Thursday, trading anywhere from 3 cents higher to 12 cents lower. For the front months, march fell 7 cents to 15.24, April rose 3 cents to 15.20 and may fell 6 cents to 15.26. the remainder of the first half average is now 15.32. Most losses on Thursday were seen in July to October leaving the second half average now at 16.22.
The CME spot product trade was fairly quiet on Thursday as 3 of the 5 products traded. Butter was the only product that saw gains during the session and rose ½ a cent to $2.26 ½ cents. Blocks were unchanged at $1.16. Barrels were also unchanged while trading 10 times and was left at $1.41. Grade A non fat dry milk lost ¼ to finish the session at 98 ¾ cents. Dry whey had the most volume on the day trading 15 times and lost 1.50 during the session to finish at 34.1/2 cents.