Dairy markets explode higher Wednesday as we had nearly every product see green on the CME spot trade. Cheese led the charge higher with Cheddar blocks trading 5 ¾ cents higher to $1.76/lb with Barrels up 3 ¾ cent to $1.68 1/4. Dry whey finished boosting class 3 milk by adding 1 ½ cents to $0.38 1/2/lb. Butter clawed back ¾ of a cent to $3.41 ¾ with Grade A Non Fat Dry milk our lown outlyer, falling a penny to $1.22/lb.
Class III milk traded limit higher for December, up 75 cents to $18.59/cwt. November tagged along, up 71 to $18.54, with October holding just a penny higher at $16.80 as we transition to pricing November milk this week. 2024 months broke back above $19 in July, Aug, and September with most months up 5-40 cents.
Class IV milk treaded water with October at $21.59, November up 2 cents to $21.10, and December down 10 cents to $19.95/cwt. 2024 was mostly unchanged between $19.25-19.95/cwt.
By KNOW YOUR MARKET
October 18, 2023
dairyherd.com
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