Market News

A strong finish for a strong week

Cash cheese barrels increased three-quarter cent on the Chicago Mercantile Exchange on Friday, blocks were 4 cents higher, nonfat dry milk added 2 cents and butter set yet another record-high price at $3.06 per pound.

For the week, cash butter is up 6 cents, cheddar barrels are 9.5 cents higher and blocks gained a dime while nonfat dry milk is up 3.5 cents from a week ago.  Class III futures for October increased $1.35, November gained $1.96, December up $1.61 and March added 3 cents.

The U.S. weighted average advertised price for a half-gallon of organic milk is $3.65, up 20 cents from two weeks ago.  A half-gallon of conventional milk is $2.70 up 81 cents from two weeks ago.  That puts the organic-to-conventional spread at just 95 cents, down 61 cents from two weeks ago.