markets | Milk Markets Remain Quiet, Slowly Trending Upwards

Cheese markets were fairly quiet, with blocks settling at $1.9375 per pound, up $0.0025, with five lots exchanged.

Cheese markets were fairly quiet, with blocks settling at $1.9375 per pound, up $0.0025, with five lots exchanged. Barrels held at $2.0100 per pound with three loads traded. Butter was also steady today at $3.1050, with no lots sold.

The Consumer Price Index held flat between April and May but rose 3.3% from a year ago. That was behind analyst forecasts for a 0.1% monthly increase and 3.4% bump versus a year ago. May also saw grocery prices hold steady from April but climb 1.0% year-over-year. Eating out was a tad more expensive in May, as prices elevated 0.4% month-over-month and +4.0% on the year.

Class III milk finished the day mostly unchanged with June down a penny at $19.77 and July up 7 cents to $20.60 and August at $21.07. Class IV milk was softer with June unchanged at $21.15, July down 20 to $21.35, and August at $21.50/cwt.

With Ever.Ag this is Jenny Wackershauser for Know your Markets.

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