Market News

CME dairy markets mixed Friday

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

October Class Three milk was unchanged at $15.55.  November was unchanged at $15.53. December was down $.01 at $15.51.  January was down $.01 to $15.42. The milk futures from February through next September ranged from one cent lower to four cents higher.

Dry whey was unchanged at  $.5750 cents per pound. No sales were recorded.

Forty-pound blocks were down $.0225 at $1.4975 per pound.  Eight carloads traded from $1.4750 to $1.4975.

Barrels were up $.0025 at $1.2675 per pound.  Eleven carloads sold from $1.2575 to $1.2675.

 Grade AA Butter was up $.01 at $2.26 per pound.  Six carloads sold from $2.26 to $2.2750.

Nonfat dry milk was up $.0050 at $.8725 per pound.  Six carloads were sold from $.87 to $.8750.

The USDA says except for cheese, cash dairy prices were up overall for the week.

Butter was up two cents and nonfat dry milk up fractionally. Some butter makers say fourth quarter holiday orders are being made and the USDA says producers are attempting to match production levels with orders to control inventories.

Nonfat dry milk orders are making an uptick, which USDA says is in part because of the new trade deal and its impact on Mexico.

The cheese market continues to have what the USDA calls an uncomfortably large gap between block and barrel prices. Barrel inventories are large and block makers say cheese is moving well.

The fluid milk market is experiencing shortages in Florida and the Southeastern U.S. because of Hurricane Michael. USDA reports several truckloads of milk from the central U.S. and New Mexico have been sent to the affected area.