Milk Prices See a Spark

After giving back some of last week's big gains in Class III Milk, prices bounced back on Friday.
After giving back some of last week's big gains in Class III Milk, prices bounced back on Friday.
(Stock Photo )

Friday markets find a spark. After giving back some of last week's big gains in Class III Milk, we bounced back on Friday. The CME spot trade Had Blocks jumping 4 ¼ cents higher to $1.90 3/4/lb with Bareels gaining ¼ or a cent to $1.76 1/4/lb. Grade a Non Fat Dry Mllk also gained 1 ¼ cents higher to $1.16/lb. Butter however gave back 11/4 cents to $2.68/lb and Dry Whey fell a quarter of a cent to $0.25/lb even. 

Class III milk like the bounce in blocks. July scraped together another penny to $13.81/lb, August jumped 28 cents to $17.26/cwt, with September up 35 to $17.70. Fourth quarter 2023 was up with an average price of $18.43/cwt. 2024 Markets gained up to 6 cents cent with first quarter of 2024 averaging $18.28/cwt. 

Class IV milk  was mostly unchanged. July at $18.30, August up 3 cents to $19.05, and September held at $19.20/cwt.

Grain markets sliding lower made for a nice day for dairy margins. Corn fell 12 ¼ cents to $5.21/bu, November soybeans fell 15 ½ cents to $13.82 1/2/bu, and Soybean tumbled $9.80/ton in December to $405.80/ton for new crop Soybean meal.

With Ever.Ag this is Jenny Wackershauser for Know Your Markets. 

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