MILK:
It was a dismal end to the week for Class III futures falling and eliminating much of what was gained during the week. The market is unable to find solid support with price increases being short-lived. Class IV futures steadily during the week moving futures back to the lowest levels since March 2024. The steady pressure on the butter price continued as supply exceeded demand leaving buyers unaggressive. The possibility of tariffs on Canada and Mexico will leave a cloud hanging over the market. Buyers of dairy products are not interested in purchasing supplies for later demand as they are uncertain of what that demand might be.
AVERAGE CLASS III PRICES:
| 3 Month: | $19.59 |
| 6 Month: | $19.24 |
| 9 Month: | $19.10 |
| 12 Month: | $18.93 |
CHEESE:
For the week, blocks declined 1.50 cents with 17 loads traded. The average price for the week was $1.8685. Barrels declined 3 cents with seven loads traded. The weekly average price was $1.7970 with seven loads traded. Dry whey declined 5.25 cents with only two loads traded. The weekly average price was 60.55 cents. Blocks remained steady for three consecutive days. The barrel price moved to its lowest level since Dec. 27, 2024. The dry whey price moved to the lowest level since Sept. 23, 2024.
BUTTER:
For the week, butter declined 5.25 cents with 14 loads traded. The average price for the week was $2.41. This is the lowest price since June 26, 2023. Grade A nonfat dry milk declined by 1.50 cents with 12 loads traded. The average price for the week was $1.3380. This is the lowest price since Aug. 30, 2024.
OUTSIDE MARKETS SUMMARY:
March corn closed down 7.75 cents per bushel at $4.8750, March soybeans closed down 11.00 cents at $10.4950 and March soybean meal closed down $5.00 per ton at $301.40. March Chicago wheat closed down 5.00 cents at $5.8275. April live cattle closed steady. March crude oil is up $0.43 per barrel at $71.04. The Dow Jones Industrial Average is down 444 points at 44,303 with the NASDAQ down 269 points at 19,523.
