Market News

Milk futures, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange closed mostly lower Wednesday after another day of negative cash cheese trade.

September Class III milk down four cents at $18.25.  October down 26 cents at $18.73.  November seven cents lower at $18.08.  December down three cents at $17.31.  January through April contracts two cents lower to nine cents higher.

Dry whey unchanged at $0.3975. 

Blocks down $0.0625 at $2.1175.  One trade was made at that price.

Barrels down $0.1050 at $1.7850.  One trade was made at that price.

Butter down $0.04 at $2.11.  One trade was made at that price.

Nonfat dry milk up $0.0050 at $1.0750.  Four trades were made ranging from $1.07 to $1.0750. 

For October, the USDA has set the base Class I milk price at $17.84 per hundredweight, down $0.01 from September, with the base Class I skim price at $9.29, up $0.46.

Weekly European dairy prices were mixed on the week but lower for the year.  Cheese had the largest gains for the week while whey powder traded lower.