Market News

Milk futures lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange closed lower ahead of the Memorial Holiday while cash prices were mixed and lightly traded.

May Class III milk unchanged at $16.38.  June down 13 cents at $16.31.  July down 12 cents at $16.52.  August down a dime at $16.80.  September through January contracts three to nine cents lower.

Dry whey up $0.0025 at $0.36. 

Blocks unchanged at $1.6825. 

Barrels down $0.0350 at $1.58.  Four trades were made ranging from $1.58 to $1.6150. 

Butter unchanged at $2.3875. 

Nonfat dry milk down $0.0075 at $1.0450.  One trade was made at that price.

The USDA says weekly cash dairy prices were higher for block cheese and dry whey but lower for all products.  In the weekly dairy recap, the agency says cheese supplies are noticeably less plentiful and the market is steady.  Butter production is expecting to be more active over the holiday and ice cream demand is limiting some supplies of cream.  Fluid milk is production is steady to increasing in most areas except southern regions. Prices for dry milk products are mostly steady with good demand.