Market News

Cheese up, butter down on the CME

Cash cheese prices increased on the Chicago Mercantile Exchange on Wednesday. Barrels increased 3.5 cents and blocks added 4.5 cents expanding the barrel-to-block spread to 30 cents.  Cash butter lost 4.25 cents slipping below $2 to $1.99.  Class III futures were a little lower except for November which gained a nickel.

 

National Dairy Products Sales Report for the week ending October 18: cash cheese blocks averaged $2.26 per pound down 7.9 cents from the previous week.  Barrels fell 11.5 cents to $2.21, butter dropped 18.5 cents to average $2.74 per pound.  Nonfat dry milk increased 1.9 cents to $1.51 and dry whey decreased 1.4 cents to average 65.2 cents per pound.

 

The November Base Class I Price is $24.06 down 13 cents from the previous month.  Base Skim Milk Price for Class I is $13.25 down 42 cents.