Market News

Milk futures, cash dairy higher

Class III milk futures at the Chicago Mercantile Exchange closed again higher Wednesday supported by the cash market.  Weekly dairy prices in the European Union are increasing for skimmed milk and whey powder and declining for butter, cheese and whole milk powder.

November closed four cents higher at $14.57.  December up nine cents at $14.90.  January a nickel higher at $15.11.  February up four cents at $15.17.  March through next October contracts closed two to six cents higher.

Barrels were up $0.0050 at $1.36.  Three trades were made ranging from $1.3550 to $1.36.

Blocks closed $0.0275 higher at $1.40.  Five trades were made ranging from $1.3975 to $1.41.

Butter was up $0.0250 at $2.24.  Four trades were made ranging from $2.2225 to $2.24.

Nonfat dry milk was up $0.0075 at $0.87.  Two trades were made at that price.

Dry whey closed up $0.0050 at $0.43.  Two trades were made at $0.42 and $0.43.