MILK
Today is National Milk Day. It observes the day that milk was first delivered to homes in sterilized glass bottles. Bottles filled with milk and sealed with wax paper were first implemented in 1878. Prior to that, milk was delivered in containers and then poured into pitchers or other containers at each home when delivered in cities. Milk handling has come a long way. The South Dairy Trade numbers and prices were released for dairy products moving through ports in Argentina and Uruguay. There were 11,019.58 tons of dairy products moving through ports in Argentina during the period from November 16-30 to 25 destinations at an average milk price of $4,040.73. Whole milk powder declined 0.5% from the previous two-week period to $3,742 per ton or $1.70 per pound. Skim milk powder declined 3.1% to $3,588.03 per ton or $1.63 per pound. Semi-hard cheese increased 2.6% to $4,750.25 per ton or $2.16 per pound. Hard cheese increased 2.3% to $6,483.43 per ton or $2.94 per pound. Butter increased 0.6% to $4,807.53 per ton or $2.18 per pound. In Uruguay, there were 8,790.25 tons of dairy products moved through ports to 20 destinations at an average price of $3,817.29 per ton during the period of December 16-30. Whole milk powder decreased 1.1% to $3,693.45 per ton or $1.68 per pound. Skim milk powder decreased 1.3% to $3,742.93 per on or $1.70 per pound. Semi-hard cheese decreased 0.8% to $4,992.63 per ton or $2.27 per pound. Hard cheese decreased 8.4% to $6,121.12 per ton or $2.78 per pound. Butter increased 3.5% to $5,400.90 per ton or $2.45 per pound.
AVERAGE CLASS III PRICES
| 3 Month: | $19.17 |
| 6 Month: | $19.18 |
| 9 Month: | $19.37 |
| 12 Month: | $19.49 |
CHEESE
There are more reports of softening sales in recent weeks. Retail interest has declined with reduced interest in contracting cheese for the upcoming year. Buyers seem willing to wait to see how demand unfolds before making commitments for fear of over-contracting supplies. Spot milk in the Midwest remains as much as $10.00 under class which is a bit surprising two weeks after the holidays.
BUTTER
Price has been holding as buyers need to purchase supply for near-term demand. Inventory is beginning to build as churning activity has increased. Overall demand is termed as a bit soft after the holidays but remains good. Buyers will welcome increased supply moving through the early months of the year.
OUTSIDE MARKETS SUMMARY
March corn closed a penny higher at $6.56. January soybeans gained 5 cents ending at $15.15 with January soybean meal up $4.10 closing at $505.00 per ton. February live cattle remained unchanged at $157.75. February crude oil jumped $2.29 per barrel ending at $77.41. The Dow increased 269 points closing at 33,973 while the Nasdaq gained 189 points closing at 10,932.
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