Market News

Milk futures mostly lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange turned lower Wednesday pressured by declining cash cheese trade.

April Class III milk up two cents at $17.70.  May down 16 cents at $19.16.  June down 11 cents at $19.19.  July unchanged at $19.29.  August through October contracts 12 to 19 cents lower.

Dry whey down $0.02 at $0.6825.  One sale was made at that price. 

Blocks down $0.0050 at $1.7950.  Four sales were made at $1.78 to $1.7950.

Barrels unchanged at $1.8050. 

Butter down $0.0050 at $1.7925.  Two sales were made at $1.7750 and $1.80.

Nonfat dry milk up $0.01 at $1.24.  One sale was made at that price. 

For May, the USDA has set the base Class I milk price at $17.10 per hundredweight, up $1.59 from April, with the base Class I skim price at $10.56, up $0.56.