Market News

Milk futures, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange bought back earlier week losses as cash traded turned more active.

August Class III milk futures down two cents at $17.62.  September up eight cents at $17.85.  October up seven cents at $17.83.  November up nine cents at $17.48.  December through March contracts a penny lower to eight cents higher.

Dry whey down $0.0025 at $0.3650.  One trade was made at that price.

Blocks down $0.0125 at $1.88.  Three trades were made at $1.8750 and $1.88.

Barrels up $0.0050 at $1.7650.  Eleven trades were made at $1.76 and $1.7650. 

Butter up $0.01 at $2.34.  Two trades were made at $2.3350 to $2.34.

Nonfat dry milk unchanged at $1.03.   

The USDA says weekly cash dairy prices ended the week higher.  In the weekly dairy recap, the agency says the cheese market remains positive with strong demand as schools step up purchases.  Cream volumes are increasing as well.  Fluid milk production is low in the East and Central region while mild temperatures in the Midwest and Western regions has increased production. Nonfat dry milk prices are steady but quiet.