Market News

Milk futures, cash dairy mostly higher

Class III milk futures at the Chicago Mercantile Exchange closed mostly higher Friday, taking back some of Thursday’s losses.

September milk closed down eight cents at $16.21. October up eight cents at $16.50.  November up six cents at $16.47.  December up nine cents at $16.37.  January through next August contracts closed four to 11 cents higher.

Barrels closed down $0.0575 at $1.50. Six trades were made ranging from $1.50 to $1.5250.

Blocks were up $0.0175 at $1.6625. One trade was made at that price.

Nonfat dry milk was down $0.01 at $0.91. One trade was made at that price.

Butter was up $0.04 at $2.23. Two trades were made at $2.2250 and $2.23.

Dry whey closed up $0.0050 at $0.5150.

The USDA says butter and barrel cheese cash prices ended the week lower while blocks, nonfat dry milk and butter were higher. In the weekly dairy market news recap, the agency says butter production is becoming more active as cream prices become more affordable.  Some facilities in the Midwest closed because of flooding this week.  Heat and humidity in the Northeast and Midwest reduced Class III volumes and reduced cheese production in those regions.  Cheese demand varies.  Fluid milk volumes are trending lower because of weather and seasonal downturns.  Dry product prices continue to strengthen as supplies become limited.