Class III Sees Small Gains
Whey and Butter find a spark to support Class III milk and drive Class IV higher following a positive Global Dairy Trade. Every product traded higher in the Global Dairy Trade to push the index 4.3% higher. Cheddar was up 2.4%, Butter gained 3.8%, Lactose gained 13.5% with Skim Milk powder up 3.6% and Whole Milk powder gaining 5%.
Spilling over into the US CME spot trade, cheese softened, but the balance of products found a bid. Butter gained 1 ¾ cents to $1.41 with 9 loads trading hands. Grade A Non Fat Dry milk jumped 3 ½ cents to $1.14 ½ with 12 loads moving, Dry whey gained a penny to $0.44/lb.
Cheddar Blocks fell 4 cents on 1 trade to $1.62, and Barrels slipped a quarter of a cent on 7 trades to $1.41 ½.
Class IV milk responded with gusto compared to is lackluster trade of late. December gained 27 cents to $13.56, January gained 51 to $14.20 and February gained 52 to $14.49.
Class III milk saw small gains in most months. December gained 9 to $15.24, January fell 3 to $15.88, and February gained 6 to $16.31/cwt.
