It was a more subdued end to the trade week as butter eased to $2.6600 per pound, down two cents, with one load traded. Weekly volume trade amassed to 161 loads - the highest ever since CME started the five-day trading week. Block and barrel prices held steady at $1.9250 per pound and $2.0100 per pound, respectively with no lots of either exchanged.
Class III futures were mixed, with the October contract climbing to $22.76 per hundredweight, up 18 cents, though Q4 prices settled down to $21.77 per hundredweight, eight cents lower. The nearby Class IV contract ended the week at $20.91 per hundredweight, giving up 15 cents, and Q4 prices also eased to $21.16 per hundredweight, down two pennies.
USDA’s Milk Production report is set to release Monday. Ever.Ag forecasts September milk production down 0.4% year-over-year, compared to -0.1% in August. Cases of avian influenza in California could be reflected in the state’s output.
