Market News

CME dairy markets mostly down Friday

The USDA says cash dairy prices ended the week lower except for dry whey.  

In the weekly dairy market news recap, the agency says butter output is active in the western region of the U.S., but steady to light in the east and midwest because of tight cream supplies.  The cheese market continues to see a larger gap between barrels and blocks, and western producers report more cheese in storage, but orders for mozzarella and cheddar steady to strong in the northeast.  Fluid milk production remains stable except in areas impacted by Hurricane Michael. Prices in the dry product market were mixed.

Milk futures and cash dairy prices were mostly down at the Chicago Mercantile Exchange Friday.

October Class Three milk was down $.05 to $15.61.  November was unchanged at $15.76. December was unchanged at $15.80.  January was up $.01 to $15.76. The milk futures from February through next September ranged from zero to seven cents higher.

Dry whey was unchanged at  $.5625 cents per pound. No sales were recorded.

Forty-pound blocks were down $.04 at $1.61 per pound.  Two carloads traded at $1.61 and $1.64.

Barrels were down $.01 at $1.36 per pound.  No sales were recorded.

 Grade AA Butter was down $.0175 at $2.25 per pound.  Five carloads sold from $2.25 to $2.27.

Nonfat dry milk was down $.0025 at $.8675 per pound.  Three carloads were sold from $.8625 to $.8725.

Another Global Dairy Trade event is set for Tuesday, October 16th.  Some analysts are predicting more whole milk powder will be offered, partly because of increased production from Fonterra.