Bullish follow-through after Friday’s trade had early green in Class III milk ahead of spot. January pulled the rest of Q1 higher. Despite a strong move in cheese and sideways trade in whey, the buyers of Class III seemed to hit a lot of sellers’ offers. But the rally was muted as we moved into the later hours of trading. The balance of 2025 struggled to follow, staying in the $19.00-19.50 territory.
Today’s Highlights
CME cheese markets jumped higher today, with blocks over $1.90 for the first time since October and barrels passing $1.80 for the first time since November. Spot blocks climbed to $1.9100 per pound, up $0.0375, and barrels settled at $1.8075 per pound, four cents higher. There were no block trades, but two loads of barrels changed hands. Spot butter and NDM each eased a half cent, closing at $2.5700 and $1.3825 per pound. Zero lots of butter and one of barrels traded.
Ever Ag
December 30, 2024
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