As much of the U.S. digs out of snow and bitter cold weather, the milk markets were mixed and continue sideways. After a early morning Global Dairy Trade, Class III milk traded slightly higher as Oceana had Cheddar markets up 1.2% over pervious event, Butter up 7.1% to a $2.68/lb equivalent and Skim Milk powder gained 1%. The US spot trade was mixed and didn’t have the same follow through. Cheddar Blocks fell 4 ¾ cents to $1.51 ½, Barrels gained 2 ½ cents to $1.47/lb with Butter unchanged at $2.56 ¾ and Grade A Non Fat Dry milk jumped a penny to $1.19 ½ with Dry whey falling 1 ½ cents to $0.41 1/2/lb.
Class IV milk continued to hold stead to higher January unchanged at $19.28, February at $19.03 and March gained 8 cents to $19.34/cwt. That balance of the first six months averaging at $19.52/cwt.
Class III milk still struggles to find momentum higher. With Jan up a penny to $15.16, but February down 17 to $15.73, and March following, down 15 cents to $16.18/cwt. The balance of the first half of the year at $17.87/cwt, a nice premium over nearby.
January 16, 2024
