Market News

Cheese lower; MPP reminder

Cash cheese was lower and Class III futures drifted with it at the Chicago Mercantile Exchange on Thursday. Barrels lost 8 cents on 10 sales, blocks slipped 3 cents on 3 sales.  Butter and nonfat dry milk held steady.

National Dairy Products Sales Report for the week ending November 7; cheddar cheese blocks averaged $1.67 per pound down 3.2 cents from the previous week. Blocks were 2.8 cents lower at $1.63, butter increased 14.2 cents to average $2.62, nonfat dry milk increased a penny to 87.6 cents per pound and dry whey increased 0.6 cents to 23.7 cents per pound.

Dairy Market News reports milk production is steady to higher across the Central United States and so is demand. Spot loads are prices at market to $1.50 over class.  It is also noted the Class I demand is solid with an increase in orders for full-fat milk outside of school meal programs.

Milk production is uneven in the Northeast, increasing in the Mid-Atlantic States and lower in the Southeast. Florida imported 40 loads this week.  Milk production is steady to higher in California, Arizona and New Mexico.

 

Farm Service Agency Administrator Val Dolcini is urging dairy producers who have yet to enroll in the Margin Protection Program to do-so by the deadline next Friday, November 20^th.

An online tool is available here from FSA to help producers determine the best level of protection.