March will have a nice upturn; component values are up, but PPD will be down. Fat was flat with protein roaring back $0.45/lb and other solids decreasing 14%. For our example herd, component prices increased $1.02/cow/day. March PPD will likely decrease $0.54/cwt ($0.46/cow/day) resulting in a total change per cow of +0.56/day. Our 12-month rolling projection for all milk price is $18.03/cwt (Boston), up $0.03/cwt from last month. This should continue in April.
Cheese trades from $1.60 to $1.70 with an average of $1.66, up 1.7%. NFDM trades from 0.97 to 1.08 with an average of $1.04 down 0.6%. Straight up!
85 pounds milk
5.7% other solids
March 29, 2019 Future Prices
Class III milk trades between $15.48 and $16.50/cwt with an average of $16.00 (up 1.1%).
Butter trades from $2.22 to $2.36 with an average of $2.30, up 0.3%. Whey trades from $0.374 to $0.385 with an average of $0.38 down 2.9% – A very narrow range