Milk Market Recap: The milk markets experienced a tumultuous week
Source: The DairyNews
The milk markets experienced a tumultuous week, characterized by volatility and fluctuations across various products.
As traders gear up to price April contracts next week, the overall sentiment remains somewhat subdued, with most spot products trading sideways, writes Jenny Wackershauser with Ever.Ag. for Dairyherd.
Cheddar blocks saw a slight decline of a quarter of a cent, settling at $1.47/lb, while barrels edged up by a penny to $1.44 1/4. Grade A Non Fat dry milk remained unchanged at $1.16 ¼, while Butter dipped by a quarter of a cent to $2.82 1/4. Dry whey, on the other hand, saw gains, finishing in the green with a half-cent increase to $0.44/lb.
Just as NCAA basketball tournaments captivate audiences with March Madness, Class III milk futures also witnessed significant action. Despite several days of upward spikes, the week concluded with a retracement. March contracts fell by 4 cents to $16.41, April dropped by 24 cents to $16.01/cwt, and May saw a decline of 34 cents to $16.42/cwt.
In contrast, Class IV milk futures saw a more subdued performance, with March and April contracts remaining unchanged at $19.98 and $20.00 respectively. However, May contracts slipped by 7 cents to $19.93/cwt.
As the dairy industry transitions into the April milk pricing window, all eyes are on Monday's trade for further insights into market dynamics.
Cheddar blocks saw a slight decline of a quarter of a cent, settling at $1.47/lb, while barrels edged up by a penny to $1.44 1/4. Grade A Non Fat dry milk remained unchanged at $1.16 ¼, while Butter dipped by a quarter of a cent to $2.82 1/4. Dry whey, on the other hand, saw gains, finishing in the green with a half-cent increase to $0.44/lb.
Just as NCAA basketball tournaments captivate audiences with March Madness, Class III milk futures also witnessed significant action. Despite several days of upward spikes, the week concluded with a retracement. March contracts fell by 4 cents to $16.41, April dropped by 24 cents to $16.01/cwt, and May saw a decline of 34 cents to $16.42/cwt.
In contrast, Class IV milk futures saw a more subdued performance, with March and April contracts remaining unchanged at $19.98 and $20.00 respectively. However, May contracts slipped by 7 cents to $19.93/cwt.
As the dairy industry transitions into the April milk pricing window, all eyes are on Monday's trade for further insights into market dynamics.
