Market News

Milk futures mixed, cash dairy mostly lower

Class III milk futures at the Chicago Mercantile Exchange closed mixed Friday, recovering some earlier week losses.

September milk closed down two cents at $16.11. October up 16 cents at $16.26.  November up nine cents at $16.31.  December up seven cents at $16.12.  January through next August contracts closed to cents lower two a penny higher.

Barrels closed down $0.05 at $1.42. Eleven trades were made ranging from $1.42 to $1.46.

Blocks were down $0.0150 at $1.6050. Three trades were made ranging from $1.650 to $1.62.

Nonfat dry milk was down $0.0025 at $0.8750.

Butter was unchanged at $2.2350. One trade was made at $2.2150.

Dry whey remained unchanged at $0.5225.

The USDA says butter and dry whey cash prices ended the week higher while the rest of the cash market was lower. In the weekly dairy market news recap, the agency says butter production is becoming more steady while milk production in the East and Midwest are down because of hot weather.  Cheese prices also reflect a reduced supply.  Dry product prices continue to strengthen as supplies become limited.