Market News

Milk futures lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange ended the week range-bound with limited cash trade.

December European dairy exports were mostly lowered from the previous month and mixed for the year.  The largest increase was with skim milk powder exports while whole milk powder exports dropped the most on the year. 

February Class III milk down a penny at $13.97.  March down three cents at $14.53.  April down three cents at $14.43.  May down two cents at $14.80.  June through October contracts were a penny lower to four cents higher.

Dry whey up $0.0125 at $0.3525.  Eleven trades were made ranging from $0.3450 to $0.3525.

Blocks unchanged at $1.58. 

Barrels remained unchanged at $1.4350. 

Butter unchanged at $2.25.  Seven trades were made ranging from $2.2350 to $2.25.  

Nonfat dry milk up $0.0025 at $0.9875.  Two trades were made at $0.9875 to $0.99. 

The USDA says cash dairy prices ended the week higher for all product categories except butter and dry whey.  In the weekly dairy recap, the agency says cream is readily available and prices vary across the country.  Milk supplies continue to meet cheese needs, some suggest demand is not meeting current expectations.  Milk production is steady to increasing even with wintery weather.   Nonfat dry milk prices are steady to lower as export marketers look to move product.