Product Markets Finish Week With Mixed Results
CME product prices on Friday had mixed results. Butter fell 3/4 of a cent to $2.11 1/2 per pound on two trades while grade A nonfat dry milk added a 1 1/4 cent and closed at 72 1/4 per pound. For the week butter rose a penny over last week's price and closed this week with an average trade price of $2.13 per pound. Grade A nonfat dry milk traded 21 loads averaging 71 cents this week, down a penny.
Blocks were unchanged Friday at $1.46 1/4 while barrels added a quarter cent to $1.32 1/2. Neither cheese product moved any loads Friday. Blocks experienced a weekly trade volume of 3 and dropped 5 cents on their weekly average price. Barrels traded 25 loads at an average price of $1.32 1/4, down 2 1/2 cents from the previous week.
The majority of months in 2018 closed lower for Class III milk. February closed 7 cents higher while March through October finished 3 to 10 cents lower. November closed up a penny and December was down 2 cents. Class IV milk had just February trade once to $13.24 per cwt, down 6 cents on the day.