Market News

Milk futures mostly lower, cash dairy mixed

Class III milk futures at the Chicago Mercantile Exchange closed mostly lower Wednesday.

October closed two cents lower at $15.60.  November down 11 cents at $15.64.  December down 11 cents at $15.62.  January also 11 cents lower at $15.58.  February through next September contracts closed 12 cents lower to two cents higher.

Barrels were down $0.04 at $1.2925.  Five trades were made ranging from $1.2850 to $1.33.

Blocks were $0.03 lower at $1.59.  Three trades were made ranging from $1.59 to $1.5950.

Butter was up $0.0150 at $2.2850.  Eleven sales were made ranging from $2.28 to $2.2925.

Nonfat dry milk closed down $0.0050 at $0.8675.

Dry whey was up $0.0050 at $0.5750.  Two sales were made at that price.

For November, the USDA has set the base Class I milk price at $15.52 per hundredweight, down $0.81 from October, with the base Class I skim price at $6.81, down $0.90.

The USDA says cash dairy prices were mixed over the past week.  The USDA reports cash butter for the week ending October 13th averaged $2.30 per pound, $0.02 higher than the previous week. Blocks of cheddar were pegged at $1.68, $0.013 higher. Barrels averaged $1.45, down $0.01. Dry whey prices averaged $0.437, down $0.002. Nonfat dry milk averaged $0.873, up $0.005.