Market News

Milk futures mixed, cash dairy lower

In Class III trade at the Chicago Mercantile Exchange, milk futures were mixed, consolidating after a couple of losing sessions. December was down $.05 at $16.93, January was $.07 lower at $16.51, February was down $.03 at $16.68, and March was up $.03 at $16.72.

Cash cheese continued its slide. Blocks were down $.0025 at $0.73. There were four loads sold, three at $1.73 and one at $1.72. The last unfilled bid was on one load at $1.70. Barrels were $.0075 lower at $1.585. There were four loads sold, two at $1.59 and one each at $1.5875 and $1.585. The last uncovered offer was for one load at $1.60.

Butter was down $.025 at $2.095. There were three loads sold, two at $2.095 and one at $2.0975. The last uncovered offer was for one load at $2.10.

Nonfat dry milk was $.0175 lower at $.9575. There were two loads sold at $.9575. The last uncovered offer was for one load at $.9625.

The USDA says butter for the week ending December 3rd averaged $2.04 per pound, up $.043 on the week. 40 pound blocks of cheddar came out at $1.91, $.019 higher. 500 pound barrels averaged $1.79, down $.002. Dry whey was pegged at $.383, up $.006. Nonfat dry milk averaged $.926, $.01 higher.

California’s Department of Food and Agriculture says nonfat dry milk for the week ending December 2nd averaged $.9187 per pound, up $.0079 on the week, with sales of 12,031,380 pounds, an increase of 6,384,850 from the week before.