Butter, cheddar barrel prices on the rise

The AA butter price in the spot market on the Chicago Mercantile Exchange continued its latest upward surge through Wednesday of this week, closing at $2.8750 per pound on the day.
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During the five trading sessions last week, AA butter gained 30 cents per pound. On the merits of an unfilled bid to buy one carload, the price rose by 5 cents per pound on Wednesday of this week.
In a very active market, Cheddar cheese barrels joined in the upward price movement with a gain of 8.75 cents per pound to close at $1.6275 on Wednesday. Eleven carloads were sold during the trading session, boosting the week’s total to 19.
Meanwhile, the Cheddar cheese block market remained relatively quite. The price stood at $1.62 per pound on Wednesday as a bid to buy one carload was not filled.
The Grade A non-fat dry milk market, however, was fairly active. Six carloads were sold on Wednesday, bringing the week’s total to 12, as the price rose by .25-cent to 80.50 cents per pound.

Futures markets

Although the monthly changes were no more than 16 cents per hundred of milk, the Class III milk futures for the coming year were about equally split between gains and losses in early afternoon trading on Wednesday. Gains were posted for nearby months and the final quarter of 2016.
Per hundred trading prices that were on the board included $15.42 for November, $15.21 for December, $15.26 for January 2016, and $15.30 for February. Prices then rise to the high $16s for the second half of 2016 before dropping to the lower half of the $16s in early 2016 and then the $15s per hundred for the latter half of 2017.
Dry whey futures had a trading board low of 24 cents per pound for November on Wednesday. With some recent price setbacks, they don’t top 30 cents until March of 2016. The highest price on the trading board was 39 cents per pound for May of 2017.

Recent prices

The national all-milk price which was announced for September is a weighted average of $17.50 per hundred. Wisconsin’s average for the month is $17.90 per hundred, up by 40 cents from August but down by $8.70 per hundred from the record high in September of 2014.
In other states, the September all-milk average prices were $18.90 per hundred in Pennsylvania, $18.20 in Texas due in part to its 3.79 percent butterfat average, $17.80 in Minnesota, $17.20 in Michigan, $16.90 in Idaho, and $15.72 in California.
With two months remaining in 2015, the differences in the monthly Class III milk price for the year are likely to be the lowest in 10 years. So far, the range in the year’s Class III prices is only $1.26 per hundred.
The November Class I fluid milk national base price is $16.48 per hundred. This is an increase of 64 cents from October.

Source: WisFarmer

Mirá También

Así lo expresó Domingo Possetto, secretario de la seccional Rafaela, quien además, afirmó que a los productores «habitualmente los ignoran los gobiernos». Además, reconoció la labor de los empresarios de las firmas locales y aseguró que están «esperanzados» con la negociación entre SanCor y Adecoagro.

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