Market News

Milk futures, cash dairy higher

Milk futures on the Chicago Mercantile closed significantly higher Thursday as traders got to business in the futures and cash markets.

Import volumes for China during March were mostly higher on the month with milk powders showing the most improvement, but still trailing last year.  Butter was down nearly 50 percent from February but up almost 20 percent from last year.

April Class III milk up seven cents at $15.98.  May up 45 cents at $16.29.  June up 32 cents at $16.37.  July 20 cents higher at $16.48.  August through December contracts were eight to 19 cents higher.

Dry whey unchanged at $0.33.  Four trades were made ranging from $0.3275 to $0.33.

Blocks up $0.02 at $1.69.  Twelve trades were made ranging from $1.68 to $1.69.

Barrels up $0.03 at $1.63.  Eleven trades were made ranging from $1.61 to $1.63.

Butter up $0.0050 at $2.26.  Seven trades were made ranging from $2.2550 to $2.26.

Nonfat dry milk up $0.01 at $1.03.  One trade was made at that price.

The USDA says dairy cow slaughter during March was nearly 12 percent of the commercial slaughter at more than 302,000 head, up more than 23,000 from February. Year to date, the dairy cow kill is nearly 880,000 head, more than 10 percent of the total cattle slaughter, and ahead of last year’s pace by more than 42,000 head.