Market News

CME dairy markets continue downward slide

Milk futures and cash dairy prices continued to fall at the Chicago Mercantile Exchange Thursday.

July Class Three milk was down $.13 at $14.36.   August was down $.15 to $14.86. September was down $.13 to $15.38.  October was down $.13 to $15.57. The milk futures from November through next June ranged from zero to 11-cents lower.

Grade AA Butter was down $.02 to $2.18 per pound.  Three carloads sold with prices from $2.18 to $2.19.

Barrels were down $.0825 at $1.28 per pound.  Three carloads sold from $1.28 to $1.32.

 Forty-pound blocks were down $.0075 to $1.5425 per pound.  One carload sold at $1.5075.

Nonfat dry milk was up $.0025 to $.7425 per pound. No sales were recorded.

Dry whey was down $.0075 to $.3925 cents per pound.  One carload sold at that price.

The June minimum class and component prices under the Federal Milk Marketing Order were also announced Thursday by USDA and Cornell University.  They are:

Class II Price:                             15.48   (per hundredweight)

Class II Butterfat Price:                  2.6762   (per pound)

 

Advanced Class II

Skim Milk Price 1/:                          6.33   (per hundredweight)

 

Class III Price:                            15.21   (per hundredweight)

Class III Skim Milk Price:                   6.08   (per hundredweight)

 

Class IV Price:                             14.91   (per hundredweight)

Class IV Skim Milk Price:                    5.77   (per hundredweight)

 

Butterfat Price:                           2.6692   (per pound)

Nonfat Solids Price:                       0.6407   (per pound)

Protein Price:                             1.7478   (per pound)

Other Solids Price:                        0.1128   (per pound)

Somatic Cell Adjustment Rate:             0.00081   (per 1,000 somatic cell count)