Butter Prices Get a Boost
Butter was the driver Wednesday in the dairy complex. The CME spot trade had butter trading 5 loads and jumping 6 cents higher to $1.82/lb . Cheddar Blocks and Barrels slid a bit, Blocks down 2 ¼ cents to $1.76/lb and Barrels down ½ cent to $1.74 ½. The block/barrel spread holding at 1 ½ cents with a $1.75 average price for Cheese.
Grade A non Fat Dry milk continued higher gaining 3 cents back to $1.48 1/2/lb. Dry whey failed to move a load and held unchanged at $0.57 1/2/lb.
Class IV milk was our big mover – following butter higher. October gained 8 cents to 16.95, November added a massive 38 cents to $17.90, and gained 36 in December to $18.29. First half of 2022 gained 20-34 cents and sits at a 18.04/cwt. Pushing it higher than Class III in 2022.
Class III milk was steady. October fell 1 cent to 17.88, November gained 4 to 18.85, and December gained 2 cents to 18.38/cwt. First half of 2022 gained 1-8 cents and is averaging at $18.00/cwt even.
