November 15, 2019

Stability Rules Class III

 |  By: Know Your Market

Stability ruled Class III as we finished the week. Cheddar Blocks and Barrels again moved lower, however Class III saw gains in every month except December. The CME weekly average moved higher for everything except Cheese. 

Butter was unchanged Friday, but saw our weekly average gain a penny and half to finish the week with a $2.06 ¾ average. Grade A Non Fat Dry Milk, was also unchanged , but the weekly average is a penny and a half higher to $1.21 ½, and Dry Whey saw a lighter volume this week with 29 loads changing hands for the week. The Average price  for whey was up close to 2 cents, most of that from the 2 ¼ cent move Friday with 2 loads trading hands, 27 bids, and no offers. The DRY whey price finished the week averaging $0.29 ¾/lb. 

Cheddar Bocks fell a penny Friday to $1.89 with no loads trading and 3 offers. The weekly average falling 18 cents to $1.93. Cheddar Barrels saw 2 offers Fridays but no bids and no loads traded to fall 3 ½ cents to $2.19 ¾. The weekly average falling 8 ¼ cents, but holding strongly over $2 at $2.27/lb

Class III saw November gain 6 cents to $20.25, December fell 14 to $18.56, and 2020 saw Jan – March gain 5-9 cents to a $17.42/cwt average. 

Class IV fell 3 to $16.70 in November, December was unchanged at 16.98, and January held unchanged at 17.19/cwt. 

Grains saw December corn fall 4 ½ to 3.71 ¼ , January Soybeans gained 1 ½ cents to 9.18 ¼, and December Soybean meal gained $4.00 to $307.10/ton