Market News

Milk futures mixed, cash dairy higher

Class III milk futures at the Chicago Mercantile Exchange closed mixed in a narrow range despite an active cash session.

November closed a penny lower at $14.56.  December down two cents at $14.88.  January a penny lower at $15.10.  February up a penny at $15.18.  March through next October contracts closed one to three cents higher.

Barrels were unchanged at $1.36.  Six trades were made at that price.

Blocks closed $0.0250 higher at $1.4250.  Ten trades were made ranging from $1.3975 to $1.4250.

Butter was up $0.0350 at $2.2750.  Seven trades were made ranging from $2.26 to $2.28.

Nonfat dry milk was up $0.01 at $0.88.  Ten trades were made ranging from $0.87 to $0.88.

Dry whey closed up $0.0050 at $0.4350.  Fourteen trades were ranging from $0.4350 to $0.4475.

The USDA says cash dairy prices were lower for all products except butter for the week ending November 10th.  The USDA reports cash butter averaged $2.26 per pound, $0.001 higher than the previous week. Blocks of cheddar were pegged at $1.57, $0.049 lower. Barrels averaged $1.33, down $0.012. Dry whey prices averaged $0.463, up $0.004. Nonfat dry milk averaged $0.877, up $0.006.