Warmer Weather, Hotter Markets
As the Midwest weather warmed up Friday, we saw markets do the same. Soybeans had a wild trade day on China trade talks and a misquote from President Trump about China purchasing 5 MMT PER day rather than TODAY. March Soybean meal ended at $315.80/ton.
Friday brings our weekly averages with Cheese and Butter leading the way.
Butter was up 5 cents to average $2.28/lb this week
Cheddar blocks were up almost 8 cents to finish with a $1.46/lb average on 14 trades.
Cheddar Barrels had very nice gains off of the low of the year last week. We were up over 10 cents from last week’s $1.17/lb to average $1.27 ½ on 28 trades.
Non Fat Dry Milk was relatively unchanged this week. The average finishing just under $1.01/lb
Dry whey had 19 trades to be our lone downward moving market of the week. The average price came in just under $0.39/lb , losing 3 cents off last week.
Class III milk finished the week on a positive note. Up 2-10 cents to average $14.75 Feb- June and $16.29 July through December.
Enjoy a nice cheese plate at your football party this weekend and be glad we all survived the Polar Vortex.
For Commodity Risk management Group, this is Jenny Wackershauser on Know your Markets.