Market News

Milk futures, cash dairy lower

Class III milk futures at the Chicago Mercantile Exchange continued their slide Friday.

December down two cents at $13.76.  January three cents lower at $13.98.  February down six cents at $14.41.  March down four cents at $14.81.  April through next November contracts closed three cents lower to a penny higher.

Barrels were down $0.02 at $1.2225.  Two trades were made at $1.2275 and $1.2350.

Blocks remained unchanged at $1.35.

Dry whey unchanged at $0.4375.

Butter was down $0.0425 at $2.25.  Six trades were made ranging from $2.22 to $2.26.

Nonfat dry milk was down $0.0075 at $0.8850.  One trade was made at that price.

The USDA says cash dairy prices ended the week lower for all product categories except butter and dry whey.  In the weekly dairy recap, the agency says butter demand from retailers and food service remains strong.  International and domestic cheese buyers are purchasing hand to mouth as inventories are heavy.  Fluid milk availability is varied with Midwestern production increasing week by week but down from last year.  Mexican buyers are showing interest in nonfat dry milk with stocks almost tight nationwide.