Market News

Milk futures, cash dairy mostly lower

Class III milk futures at the Chicago Mercantile Exchange closed mostly lower as the market anticipated a bearish set of USDA numbers.

March milk closed down $0.01 at $14.28. April was down $0.12 at $14.45.  May closed $0.06 lower to $14.33.  June milk was down $0.06 at $14.69.  The rest of the 2018 milk futures closed down four cents a hundredweight to a penny higher.

 

Grade AA Butter was unchanged at $2.1825.

Barrels were down $0.0425 at $1.5175. Five loads were sold ranging from $1.52 to $1.54.

40 # blocks were down $0.04 at $1.5425. One load was sold at $1.53.

Nonfat dry milk was down $0.0025 at $0.6875. One load was sold.

Dry whey remained unchanged at $0.2925 cents.

The Global Dairy Trade auction index was down 1.2 percent from the last event at $3,632 per ton, the third consecutive decline. Skim milk powder was down 8.6 percent, while cheddar cheese was down 3.9 percent.   Rennet casein dropped 2.9 percent and whole milk powder gained 0.1 percent.