Market News

Milk futures lower, cash dairy mixed

In Class III trade at the Chicago Mercantile Exchange, milk futures were down on another round of profit taking after last week’s late move to new contract highs. December was $.05 lower at $16.98, January was down $.17 at $16.58, February was $.12 lower at $16.71, and March was down $.10 at $16.69.

Cash cheese was lower. Blocks were down $.0275 at $1.7325. There was one trade at $1.7325, along with one at $1.74. The last unfilled bid was on one load at $1.72. Barrels were $.0075 lower at $1.5925. There were a total of five loads sold, including one at $1.5925 and two at $1.5975. The last uncovered offer was for one load at $1.60.

Butter was up $.0075 at $2.12. There were two loads sold at $2.12. The last unfilled bid was on one load at $2.10.

Nonfat dry milk was down $.015 at $.975. There were two loads sold at $.975. The last uncovered offer was for two loads at $.98.

The Global Dairy Trade index was up 3.5% from the previous auction at an average of $3,622 per ton. Lactose jumped 10.6% and whole milk powder was 4.9% higher, while butter milk powder was the only declining sector, losing 2.6%. The next auction is scheduled for December 20th.