Market News

Milk futures, cash dairy mostly lower

Class III milk futures at the Chicago Mercantile Exchange closed lower Thursday somewhat pressed by a lack of movement on the USMCA and mixed tone of international markets.

December down a dime at $13.78.  January 19 cents lower at $14.01.  February down 14 cents at $14.47.  March down 12 cents at $14.85.  April through next November contracts closed five to 12 cents lower.

Blocks were unchanged at $1.35.

Barrels were down $0.04 at $1.2425.  Two trades were made at $1.2650 and $1.28.

Dry whey closed down $0.0075 at $0.4375.  Five trades were made ranging from $0.4375 to $4425.

Butter was up $0.0225 at $2.25.  Four trades were made ranging from $2.2275 to $2.25.

Nonfat dry milk was down $0.0175 at $0.8925.  Two trades were made at $0.8925 and $0.90.

For November 2018, the USDA says the Class II milk price was $15.63 per hundredweight, up $0.09 from October, the Class III price was $14.44, $1.09 lower, and Class IV was $15.06, an increase of $0.05.