Market Charts

Milk futures, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange ended the week mixed as cash trade provided mixed market signals depending on the category.

February Class III milk down two cents at $15.63.  March down 34 cents at $16.22.  April three cents higher at $17.43.  May down seven cents at $17.75.  June through August contracts three cents lower to nine cents higher.

Dry whey up $0.01 at $0.5575.  One sale was made at $0.5550.

Blocks down $0.0425 at $1.6175.  One sale was made at $1.6225.

Barrels down $0.0275 at $1.42.  Two trades were made at $1.4175 and $1.42. 

Butter down $0.0275 at $1.4975.  Seven trades were made ranging from $1.47 to $1.4950.

Nonfat dry milk up $0.01 at $1.1325.  Fourteen trades were made at $1.13 and $1.1325.

The USDA’s dairy index for January fell by 5.3% from December and 11% from January 2020, with the all milk price at $17.50, a loss of $1.00 on the month and $2.10 on the year.

As Tom Vilsack returns to USDA as the Ag Secretary under a new administration, dairy groups are thanking him for his service to the industry.

Tom Gallagher, the head of Dairy Management Inc and the U.S. Dairy Export Council’s parent organization, which was led by Vilsack, says the Secretary has been a driving force to create viable global markets for dairy through the Council and will continue to be a strong voice for agriculture at USDA.

The head of the National Milk Producers Federation Jim Mulhern says the dairy community has seen first-hand Vilsack’s deep passion for rural America and his commitment to advancing agriculture and the communities it serves which will help him to meet the challenges of today at USDA.

International Dairy Foods Association lead Michael Dykes says he looks forward to working with Vilsack to enhance economic progress for food producing communities and strengthen export opportunities, while creating a more sustainable footprint for the food and ag sector.

Krystin Harden, Chief Operating Officer of USDEC and former Deputy Secretary of Agriculture, has been appointed as the head of USDEC now that Vilsack has been confirmed.