Market News

Milk futures mostly higher, cash dairy mixed

Class III milk futures at the Chicago Mercantile Exchange were mostly lower Friday, rounding out a mostly positive week.

November closed two cents higher at $14.58.  December down four cents at $14.84.  January six cents lower at $15.04.  February down four cents at $15.14.  March through next October contracts closed one to five cents lower.

Blocks closed $0.0275 higher at $1.4525.  Four trades were made ranging from $1.4475 to $1.4525.

Barrels remained unchanged at $1.36.

Dry whey closed down $0.0050 at $0.43.  Three trades were ranging from $0.43 to $0.4325.

Butter was unchanged at $2.2750.

Nonfat dry milk was up $0.0050 at $0.8850.

The USDA says cash dairy prices ended the week lower for all product categories except butter and barrel cheese.  In the weekly dairy recap, the agency says cream volumes are tight in the East and Central regions and butter holiday demand is getting met.  Cheese markets are recovering after Monday’s block prices hit a two and a half year low.  Fluid milk availability is improving.  Production is steady to increasing.  Dry product demand is stable.