Market News

GDT and base milk prices push dairy markets

A little slip in the dairy markets on Wednesday: cash cheese barrels lost a half-cent and butter declined 2.5 cents.  Class III futures declined in response to the 10.8 percent drop in the overall index at the Global Dairy Trade auction on Wednesday.  There were significant declines in seven products offered with butter milk powder dropping 25 percent.

 

Base milk prices for March: Class II $14.50 per hundredweight up 2 cents from February but $9.72 below a year ago.  The Class III base is $15.56 up a dime from February and $7.77 below March of 2014.  Class IV base is $13.80 down 2 cents from February and $9.86 below a year ago.

Component prices per pound: butterfat $1.8444: protein $2.4875; nonfat solids $0.8454; other solids $0.2918

 

National Dairy Products Sales Report for the week ending March 28: cash cheese blocks averaged $1.58 per pound up 0.7 cents from the previous week.  Barrels increased 1.9 cents to $1.58, butter decreased 3.6 cents to $1.67, nonfat dry milk slipped 1.6 cents to 99.2 cents per pound and dry whey increased 2.6 cents to 49.3 cents.

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