Market News

Another good week in the dairy markets

Cash cheese slipped a little but butter and nonfat dry milk increased on the Chicago Mercantile Exchange on Friday. The lower cheese prices pushed Class III futures a little lower as well.

For the week, cash cheese barrels up 6.5 cents, blocks gained 8.5 cents butter increased 11.5 cents and nonfat dry milk lost 4.25 cents. Class III July contract unchanged, August gained 27 cents, September increased 31 cents and January was unchanged.

Milk production is steady to lower in the Midwest, Northeast and West while it remains strong in Florida. Components are also decreasing as the summer heat sets-in. Still a lot of milk available across the country.

The National Ag Statistics Service says there were 9.3 million dairy cows in the United States as of July 1st; one percent more than on July 1, 2014. Replacement dairy heifers weighing 500 pounds or more were up two percent at 4.2 million head.

Total cattle and calves in the U.S. on July 1 was 98.4 million head up two percent. The first increase since 2006.

 

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