Market News

Nonfat dry milk prices continue to slide, other dairy markets up Thursday

It was another record down day for nonfat dry milk on the Chicago Mercantile Exchange, but the rest of the dairy markets were mostly steady or higher.

The exception was the December Class III milk futures which closed down $.10 at  $15.51.  

January milk was up $.20 closing at $14.70.  February was up $.14 at $14.50.  March was up $.07 closing at $14.52.

The rest of the 2018 milk futures were all up.

Grade AA Butter closed up $.0475 at $2.26.  Thirteen carloads of butter were sold ranging from $2.24 to $2.26.

Barrels were unchanged for a second straight day at $1.67.

Eleven carloads of barrels traded between $1.67 and $1.6725.

40-pound blocks closed up $.0750 at $1.53.

University of Wisconsin Dairy Profitability Center Director Mark Stephenson tells Brownfield the wide spread between blocks and barrels is unusual and should level out.  He says, “We’ve had opportunities for sales to China and other places so that may be partially what’s being reflected in those barrel prices right now, but I think that’s likely to be short-term.”  He suspects the recent reduction in Chinese cheese tariffs might be prompting other buyers to purchase now.

Nonfat dry milk hit another all-time low, down another $.005 at $.665.  Only one carload was sold at that price.