Tis The Season For Butter
Seasonal interest for butter continued to push prices higher on Monday after six loads moved from seller to buyer and 4 cents was added to price. On a per pound basis, butter now finishes at $2.29.
Grade A nonfat dry milk was able to gain a half cent as well, it finishes at 87 and a quarter after no trades were tendered. The most active session of the CME spot trade were barrels where prices dropped 2 and a quarter after nine loads traded hands. It finishes at $1.33 and three-quarters that being the lowest settlement since mid-July.
Block cheese remained unchanged and finished at $1.61 after a single load traded while dry whey remained unchanged at 56 and a quarter. No trades were tendered.
Class III markets maintained mixed results in the end, with the average for the balance of 2018 falling 4 cents to finish at $15.68 per cwt. while the first half of 2019 gained a penny to finish at $15.91.
In the Class IV market. Both periods moved higher, with the average for the remainder of 2018 now resting at $15.03 while the first half of next year advances to $15.32.
Strong gains in the grain complex lead soybeans 24 cents higher with meal rising $10 a ton. Corn moved 4 and a half cents higher as well.