Milk Market Margins (Finally) Improve
Margins improved Wednesday as we watched Milk follow through on another day of a strong move higher while the grain complex struggled to hold recent moves higher. The CME spot trade pushed us higher as Cheese jumped up on strong bids. Cheddar Blocks gained 6 ¼ cents to $1.52 ¼ and Barrels jumped 9 ½ to $1.65 1/4. The Average cheese price now sits at $1.58 3/4. Our other products struggled to keep up. Butter fell 1 ¾ cent to $2.36/lb with Grade A Non Fat Dry milk down a quarter of a cent at $1.16 ¼ and Dry whey unchanged at $0.27 1/2/lb.
Class III milk was up 6 cents in June to $15.30, July was up another 24 cents to $16.53 and August was up 20 cents to $17.37/cwt. Th balance of the year was up 4-37 cents. Class IV milk was unchanged to softer with June at $18.11, July at $18.25, And August at $18.28/cwt.
June 7, 2023