At the Chicago Mercantile Exchange Wednesday, Class III milk futures were firm to higher on follow through buying and weather concerns in some areas. Class III markets prices were elevated 14 cents in the average from now through the end of the year to return back to $15.83. The 2019 average picked up 3 cents over Tuesday’s finish to settle at $16.01. Class IV markets remained quiet but also gained some ground in 2019 rising just a penny to $16.04 in its average for the coming calendar year.
Butter prices rose another ½ cents finishing at $2.32 cents per lb. with just a couple of loads trading. Block cheese also traded a pair of loads to rise 2 and 3/4 cents finishing at $1.60 and ½ cents. This is the first time that blocks have traded north of $1.60 since the announcement of tariffs hit in mid-June. Barrel cheese rose 3 cents on seven loads to finish at $1.51 and ½ cents while whey prices rose ¼ cents to finish at 44 cents per lb. Yet again, another record. Grade A nonfat dry milk fell to its lowest price yet this month, dropping a penny and ¾ cents on four loads to finish at 82 cents per lb.
