Market News

Milk futures higher, cash dairy mixed

Class III milk futures at the Chicago Mercantile Exchange closed higher Friday.

September milk remained unchanged at $16.14. October up two cents at $16.04.  November a dime higher at $16.37.  December up 14 cents at $16.24.  January through next August contracts closed nine to 17 cents higher.

Barrels were down $0.03 at $1.36. Fifteen trades were made ranging from $1.35 to $1.3675.

Blocks were up $0.02 at $1.6350.

Butter closed down $0.07 at $2.2350. One trade was made at $2.28.

Dry whey closed down $0.01 at $0.5150.

Nonfat dry milk was unchanged at $0.8725.

The USDA says butter and dry whey cash prices ended another week higher while the rest of the cash market was lower. In the weekly dairy market news recap, the agency says butter production is steady with supplies in the Midwest a little tight.  Cheese is slowing with barrel prices slightly lower.  Fluid milk is easily accessible, but supply varies by region.  The dry product market has a strong undertone despite global trade uncertainty.