Market News

Milk futures lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange closed lower at midweek despite USDA calling for increased milk prices in its latest supply and demand report, cash markets were mixed.

March Class III milk was down 15 cents at $22.54. April 29 cents lower at $24.26. May down 40 cents at $24.25. June 23 cents lower at $24.20. July through September 30 to 42 cents lower.

Dry whey unchanged at $0.7575. One sale was made at that price.

Blocks up $0.01 at $2.2325.

Barrels up $0.0150 at $2.0850. Six trades were made at $2.0825 and $2.0850.

Butter up $0.0125 at $2.7775. Three sales were made from $2.7775 to $2.80.

Nonfat dry milk down $0.01 at $1.8450.

The board of directors for the National Milk Producers Federation is continuing to press for reform of the Federal Milk Marketing Order system.

President and CEO Jim Mulhern during this week’s meeting called for a spirit of collaboration in the industry to reflect the needs of farmers across the U.S.

Board members also pledged to assist Ukrainian families and farmers and plan to call on policymakers to immediately take the steps to facilitate increased domestic energy production of all forms to avoid agricultural supply disruptions.