March 2, 2018

Spot Markets Trend Upward

 |  By: Know Your Market

Spot product markets were mainly up on Friday with the exception of Grade A nonfat dry milk. Nonfat dry milk softened a penny to 66 1/4 cents on 3 trades while four trades took place on the week at an average price of 67 1/4 cents per pound. Block cheese was the biggest winner on Friday as it climbed 3 cents despite no trades. Blocks traded just 4 loads all week at an average price of $1.53 1/2, up 3/4 of a cent. Butter added 2 cents off of 17 trades and settled at $2.20 per pound. The weekly volume totaled 80 loads traded at an average of $2.19 1/4, up 2 3/4 cents from last week. Barrels gained a quarter cent after 14 trades Friday to settle at $1.47 1/2.

Class III milk results were up to close the week. March and April climbed 8 and 9 cents, respectively. May through August were up 2 to 4 cents while September fell a penny. The fourth quarter of 2018 and 2019 were unchanged. Class IV milk had April through June 3 to 8 cents lower, August down 3 cents and October a penny weaker. September closed 8 cents higher.