Market News

Milk futures, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange ended mixed at midweek following the direction of the cash market.

Weekly European dairy prices are up on the week and the year.

May Class III milk four cents higher at $16.12.  June up a nickel at $16.26.  July six cents higher at $16.43.  August up three cents at $16.69.  September through January contracts were two cents lower to three cents higher.

Dry whey up $0.0075 at $0.3475.  Six trades were made ranging from $0.3550 to $0.3475.

Blocks down $0.01 at $1.6625.  One trade was made at that price.

Barrels unchanged at $1.63.  Five trades were made ranging from $1.6275 to $1.63.

Butter unchanged at $2.2675.  Six trades were made ranging from $2.2650 to $2.27.

Nonfat dry milk unchanged at $1.04. 

The USDA has lowered the April Class II component price but increased Class III and Class IV prices.  The Class II milk price was set at $16.38 per hundredweight, down $0.23 from March, the Class III price was $15.96, $0.92 higher, and Class IV was $15.72, up $0.01.