Market News

CME cash dairy prices lower

Cash dairy prices pushed lower Thursday on the Chicago Mercantile Exchange.

Dry whey up $0.0025 at $0.5975. Five sales were made at that price.

Blocks down $0.03 at $2.1450.

Barrels down $0.0275 at $2.4275.

Butter down $0.07 at $2.79. Nine sales were made from $2.79 to $2.8275.

Nonfat dry milk down $0.0075 at $1.37. Three sales were made from $1.37 to $1.3750.

Strong butter demand has driven stocks lower while reduced milk supplies have caused a drop for cheese.

The USDA’s latest Cold Storage report pegs August cheese stocks at more than 1.4 billion pounds, down slightly from the prior month and six percent from last year.

Butter inventories were down eight percent from the previous month but up eleven percent from a year ago at nearly 323 million pounds.

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