Markets took a bit of a nap following a day off for President’s Day. Tuesday started with the Global Trade Event 278.
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The Oceana dairy markets saw another move higher with the overall index gaining 3% over two weeks prior. All of the products traded higher with Butter up 2%, Cheddar index up 2.4%, Skim Milk powder only gained 0.3%t, but Whole Milk powder jumped up 4.3%.

The CME spot trade only had 6 total loads of product move. Butter was 2 of those and jumped 6 cents higher to $1.45 ½, Grade a Non Fat Dry milk moved the other 4 loads to gain a quarter of a cent to $1.11 ½. Whey was unchanged at $0.54 1/4/lb. Cheddar blocks and barrels failed to move a load and held unchanged with Blocks at 1.55 ¾, and barrels at $1.49. Our Block/barrel spread holds at 6 ¾ cents.

Class III Milk made small gains. February up 1 cent to $15.64. March up 14 cents to $16.70, and April up 12 cents to $17.26 per cwt.

Class IV did the same. February was up 3 cents to $13.42, March was up 13 cents to 1$4.12 and April gained 23 cents to $14.88 per cwt.

The Grain complex continued to grind higher. Corn was up 13 ¼ to 5.52 ¼, Soybeans gained 12 ¾ to 13.84 ¾, with Soybean meal gaining $1.20 to $428.40/ton.

Last month, 14 of our dairy farms in Maine, as well as dozens of dairy farms across northern New England, got an unexpected and disappointing notice from Danone of North America saying that they were discontinuing their contracts with our organic dairy farmers in Maine, New Hampshire, Vermont and elsewhere.

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