Market News

Class III contracts increase

Cash cheese barrels and butter a little higher, nonfat dry milk a little lower on the Chicago Mercantile Exchange on Thursday. Class III futures for March gained 13 cents, April increased 28 cents, May was 21 cents higher in fact every contract through May of 2016 increased.

Milk production is strong across the country, about the only “glitch” is some weather-related issues for transportation in the Southeast. Florida’s milk production is in balance with demand so no spot loads imported or exported this week.

 

National Dairy Products Sales Report for the week ending February 21st: cash cheese blocks averaged $1.53 per pound up 0.9 cents from the previous week.  Barrels increased 0.3 cents to $1.53, butter gained a penny-and-a-half to average $1.71, nonfat dry milk slipped 0.4 cents to $1.02 per pound and dry whey lost 1.6 cents to average 51.1 cents.

 

The Dairy Market News National Retail Report says the weighted average advertised price for a gallon of milk is $2.71 this week compared to $2.99 last week and $3.44 a year ago. The Midwest price for a gallon of milk is $3.14.

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