Market News

Milk futures, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange ended the week in mixed territory following cash trade while grain markets took a big dive.

January Class III milk up a penny at $16.16.  February unchanged at $16.46.  March 21 cents higher at $17.54.  April up 13 cents at $17.54.  May through July contracts a penny to 14 cents higher.

Dry whey unchanged at $0.54.  One sale was made at that price. 

Blocks down $0.0425 at $1.61.  Eight sales were made ranging from $1.60 to $1.61. 

Barrels up $0.0025 at $1.3925.  Eight sales were made ranging from $1.39 to $1.3950.

Butter unchanged at $1.4025. 

Nonfat dry milk down $0.01 at $1.1725.  Eleven sales were made ranging from $1.17 to $1.1775.

For February, the USDA has set the base Class I milk price at $15.54 per hundredweight, up $0.40 from January, with the base Class I skim price at $10.37, up $0.34.