First Half 2021 Milk Prices Looking Up
Cheese values declined in both the block and barrel market on Wednesday. Cheddar blocks fell 4.25 cents/lb as two loads were exchanged from seller to buyer. Blocks closed at $1.5775/lb. Barrel cheese drifted ¾ of a cent lower to $1.4050/lb. Butter remained active moving another 6 loads with its price increasing 4.75 cents to $1.4575/lb. Nonfat dry milk rose a half cent to $1.15/lb. Dry whey added a penny and closed at $0.45/lb.
Class III milk traded 3 cents lower in December and February while January lost the greatest value of 26 cents/cwt. Beyond February, however, markets traded 3-10 cents higher. Class IV markets had just March 2021 trade and added 17 cents.
Grain prices came into Wednesday morning’s trading session significantly lower following improving weather forecasts in South America. Ultimately, corn prices rose 4 cents on the day and ended 10 cents off the lows. Soybeans lost 9 cents with a January settlement of $11.53/bu. The wheat complex ranged from 6-14 cents stronger for the day.
