Market News

Milk futures higher, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange continued higher for the week while cash markets were mixed as butter stocks provide some pressure.

January Class III milk up two cents at $17.05.  February up 26 cents at $17.80.  March 19 cents higher at $17.95.  April up nine cents at $17.78.  May through August contracts 10 to 13 cents higher.

Dry whey down $0.0050 at $0.3575.  Three sales were made at that price.

Blocks up $0.0375 at $2.0025.  Two trades were made at $2.0075 and $2.0150. 

Barrels up $0.0275 at $1.6250.  Six trades were made ranging from $1.62 to $1.6250. 

Butter down $0.0150 at $1.8650.  One trade was made at that price. 

Nonfat dry milk up $0.0025 at $1.2975.  Nine trades were made ranging from $1.2959 to $1.30. 

The USDA says cheese stocks are declining slightly while butter inventories are building over year-ago levels.

Cheese stocks totaled more 1.3 billion pounds, down half of percent on the month and two percent on the year.  Natural cheeses are down more than seven percent while American and other types of cheese are up five percent from last year.

Butter inventories were up five percent from November and up almost six percent from last year at more than 190 million pounds.