Whey Powder Breaks New Record
Whey broke through to a new record high on Tuesday, rising three-quarters of a cent to finish at 53 cents in the CME spot trade. That was a needed offset to the barrel prices, which fell 4 cents even after yesterday's rise. After 15 loads traded hands, it finishes at $1.34.
The block market remained unchanged at $1.63 and a half after no trades and leaves the spread at 29 and a half cents, and as you might recall, that stands just a quarter cent from the all-time record high. Butter rose a half cent to finish at $2.28 after a handful of trades, while Grade A nonfat dry milk rose a quarter cent on a single load to finish at 87 and a half cents.
The mishmash of product outcomes kept Class III markets subdued all day with little change to price. In the end, the average for the fourth quarter of the year dropped 3 cents to $16.19 while the first half next year fell 2 cents to $16.04. Class IV markets saw uptick moving the average for the balance of the year to $15.16, up six cents. While the first half of 2019 rose 13 cents to end the day at $15.60.
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