Market News

A mixed day in the dairy markets

Cash cheese barrels slipped a half-cent, blocks gained a quarter-cent and butter held steady on the Chicago Mercantile Exchange on Wednesday.  The April, May and June Class III contracts slipped a penny each while July through November were 12 to 18 cents lower.

National Dairy Products Sales Report for the week ending April 18: cheddar cheese blocks averaged $1.58 per pound up 0.4 cents, barrels increased 2.7 cents to $1.64.  Dairy Market News notes some “uncertainty” in the cheese market as prices are inching higher when they normally decline at this time of year.  Butter decreased 0.7 cents to $1.74, nonfat dry milk decreased 0.9 cents to 96.7 cents per pound and dry whey lost 0.8 cents to 45.6 cents per pound.

Base Class I Price for May is $15.83 per hundredweight up 33 cents from the previous month.  The Base Skim Milk Price for Class I is $9.52 up 15 cents from the previous month.

Monthly Cold Storage Report from the National Ag Statistics Service shows 1.06 billion pounds of cheese in the nation’s warehouses at the end of March.  That is unchanged from the end of February but 4 percent more than the end of March, 2014.  American type cheese stocks were down 2 per cent for the month and year at 629 million pounds.

There was 184 million pounds of butter in cold storage as of March 31st, up 4 percent from the end of February but 4 percent below March of last year.

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