Market News

Milk futures, cash dairy mixed

Class III milk futures at the Chicago Mercantile Exchange closed mixed Monday as dairy products in cold storage showed inventories are moving while cash prices were limited.

September milk closed a penny lower at $16.13.  October down a nickel at $15.99.  November two cents higher at $16.39.  December up three cents at $16.27.  January through next August contracts closed unchanged to six cents higher.

Barrels were up $0.02 at $1.38.  Twelve trades were made ranging from $1.32 to $1.38.

Blocks were unchanged at $1.6350.

Butter closed up $0.04 at $2.2750.  Six trades were made ranging from $2.2675 to $2.2850.

Dry whey closed up $0.0075 at $0.5225.

Nonfat dry milk remained unchanged at $0.8725.

The USDA says the amount of cheese and butter in cold storage is down on the month but up on the year.

Cheese stocks as of August 31^st totaled nearly 1.4 billion pounds, down four percent from July but up two percent from last year, with the largest increase in Swiss cheese stocks.

Butter stocks were pegged at more than 290 million pounds, down nine percent from July, but up four percent from 2017.