June 19, 2020
The highlight in Friday’s milk market was a new record block cheese price as the market jumped to $2.65 per lb. on bids. The previous record price was $2.58 ½ established on June 8. Barrel cheese rose as well but only a half cent to $2.28 ½ on a single trade. Butter gained 4.25 cents to $1.85 per lb. Grade A nonfat dry milk traded 8 loads and 1.25 cents stronger to $1.03 ¼ per lb. Dry whey completed the 5-product cycle of higher prices moving a penny in the green. For the week butter, nonfat and whey all traded at least 25 loads. The nonfat monthly price was the lone product to gain this week on average price from week to week.
Class III milk prices increased the limit in July to $21.18 per cwt. August was up significantly as well. September through December prices followed higher but to a lesser extent. Class IV markets were up modestly as well. For the first time Class III will have expanded limits of $1.50 per cwt on Monday with today’s limit move.