Friday markets find a spark. After giving back some of last week’s big gains in Class III Milk, we bounced back on Friday. The CME spot trade Had Blocks jumping 4 ¼ cents higher to $1.90 3/4/lb with Bareels gaining ¼ or a cent to $1.76 1/4/lb. Grade a Non Fat Dry Mllk also gained 1 ¼ cents higher to $1.16/lb. Butter however gave back 11/4 cents to $2.68/lb and Dry Whey fell a quarter of a cent to $0.25/lb even.
Class III milk like the bounce in blocks. July scraped together another penny to $13.81/lb, August jumped 28 cents to $17.26/cwt, with September up 35 to $17.70. Fourth quarter 2023 was up with an average price of $18.43/cwt. 2024 Markets gained up to 6 cents cent with first quarter of 2024 averaging $18.28/cwt.
Class IV milk was mostly unchanged. July at $18.30, August up 3 cents to $19.05, and September held at $19.20/cwt.
Grain markets sliding lower made for a nice day for dairy margins. Corn fell 12 ¼ cents to $5.21/bu, November soybeans fell 15 ½ cents to $13.82 1/2/bu, and Soybean tumbled $9.80/ton in December to $405.80/ton for new crop Soybean meal.
With Ever.Ag this is Jenny Wackershauser for Know Your Markets.
