Friday brought on late buying as the milk markets finished the week with a swing back higher. Class III milk showed strength through the second half of the year with July up 43 cents to $20.29 and August 46 cents higher to $20.29/cwt May and June were muted with May finishing the month at $18.60 and June gaining 2 cents to $19.38/cwt.
Class IV milk was more muted despite butter gaining back 6 cents in the spot trade. May at $20.57, June at 20.84, and July at $21.31/cwt.
The CME spot trade had Butter gaining the 6 cents to $3.09/lb with Cheese unchanged - Cheddar Blocks at $1.81 and Barrels at $1.94/lb. The block/barrel spread staying inverted by 13 cents and holding our average price at $1.87 1/2/lb. Powder markets both also finished the week trading green. Dry when up a penny to $0.41 1/2/lb and Grade A Non Fat Dry Whey, up ½ a cent to $1.16 3/4/lb.
Grain and Feed markets slid into the weekend as well with corn down 2 ½ cents in July to $4.46 1/4, Soybeans down 4 ¾ cents to $12.05/bu and Soybean Meal up $1.10 in July, but over $25/ton off of Monday’s highs - finishing the week at $364.10/ton.
With Ever.Ag this is Jenny Wackershauser for Know your Markets
