Class III Prices in a Summer Slump
June 15, 2021
The Global Dairy Trade event 286 started our day out lower. The index fell 1.3% from 2 weeks prior with a mix in the products. Butter wasd down 1.7% as was Skim Milk powder. Whole Milk powder also saw a decline of 1.8%, however The cheddar index was slightly higher, up 2/10th of a percent. Lactose rose 4/10 of a percent, and Anhydrous milkfat was up 6/10th of a percent.
The CME spot trade also saw slight moves lower. Butter fell 1 ¾ cents on 1 trade to $1.80 1/2/lb. Cheddar failed to trade any loads for the first time in weeks, Blocks were unchanged at 1.50 ½/lb with barrels down ¾ of a cent at 1.65 ¾.
The dry powders struggled to hold, Grade A Non fat dry milk fell 2 ¾ cents to 1.28/lb and Dry whey fell 2 ¼ cents to $0.60/lb even.
Class III Milk followed whey lower. June held unchanged at 17.25, July fell 34 to 17.13, and August fell 37 cents to 17.97/cwt. The balance of 2021 was down 8-27 cents.
Class IV also slid lower. June down 8 to 16.48, July down 12 to 16.60, and Aug fell 22 cents to 16.90/cwt.