June component prices will retreat a little. Component values are down a little, but PPD will pop up. Fat added 9 cents, while protein decreased $0.12/lb (Cheese had a $0.14/lb spread between block and barrels) and other solids decreased to $0.17/lb. For our example herd, component prices decreased $0.08/cow/day (but, $0.07 ahead of our projection). June PPD will likely increase $0.58/cwt ($0.49/cow/day) resulting in a total change per cow of +0.41/day. Our 12-month rolling projection for all milk price is $19.05/cwt (Boston), up $0.27/cwt from last month.
85 pounds milk
3.9 % Fat
3.1 % Protein
5.7 % other solids
Cheese trades from $1.75 to $1.87 with an average of $1.81, up 3.9%. NFDM trades from 1.05 to 1.19 with an average of $1.12 up 0.5%. Straight up!
June 28, 2019 Future Prices
Class III milk trades between $16.62 and $17.95/cwt with an average of $17.23 (up 3.4%).
Butter trades from $2.28 to $2.46 with an average of $2.36, up 1.0%. Whey trades from $0.340 to $0.360 with an average of $0.347down 2.6%