Market News

Milk futures, cash dairy lower

Milk futures on the Chicago Mercantile Exchange closed lower Thursday again following the direction of the cash cheese market.

February Class III milk a penny lower at $15.62.  March down 24 cents at $16.28.  April down 14 cents at $16.98.  May 12 cents lower at $17.35.  June through August contracts a dime lower to unchanged.

Dry whey unchanged at $0.55. 

Blocks down $0.02 at $1.51.  One sale was made at that price.

Barrels down $0.0150 at $1.4250.  Two trades were made at $1.4225 and $1.4250. 

Butter unchanged at $1.4950. 

Nonfat dry milk down $0.0150 at $1.0950.  Seven trades were made ranging from $1.0925 to $1.0975. 

For March, the USDA has set the base Class I milk price at $15.20 per hundredweight, down $0.34 from February, with the base Class I skim price at $10.62, up $0.25.