Dairy finishes the week with a flourish. Spot Butter trades at all-time highs at $3.17/lb. Cheese also continued its march higher. Blocks jumped 6 ¾ cents to $1.91 ¾ with Barrels unchanged at $1.93 ¼. That is a 15 cent gain for Blocks in a week and barrels gained 7 ¼ cents this week.
Dry powders also showed gains with Grade A Non Fat Dry milk up a penny to $1.57 ¾ and Dry Whey up ¾ of a cent at $0.45 3/4/lb.
Class III milk rocketed higher though September stayed unchanged at $19.79, October gained 34 cents to $20.93 and November up 46 to $21.55. 2023 Q1 was up 7-14 cents to average at $21.09/cwt.
Class IV saw smaller gains. September up 18 cents to $24.50, October up 19 to $24.40, and November gained 8 to $23.75/cwt.
Grain markets followed a bounce in Crude oil ahead of Monday’s USDA Supply and Demand report. December Corn was 16 ½ cents higher at $6.85, Soybeans gained 26 ¼ tp $14.12 1/4/bu and sbm jumped $5.70 to $414.80/ton.
With Ever.Ag this is Jenny Wackershauser on Know your Markets.
