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Cash butter, milk futures higher

Futures Markets copy

In the spot dairy market Friday, cash cheese barrels were up $.005 at $1.525. The last bid unfilled was for one load at that price. Blocks were unchanged at $1.495. The last offer uncovered was for one load at $1.50.

Butter continued its rally, $.0975 at $2.25, with one load sold at that price. The last bid unfilled was for one load at $2.2125. The last offer uncovered was for one load at $2.30.

Grade A nonfat dry milk was $.0075 higher at $.75, with two loads sold. The last bid unfilled was for one load at $.7475.

At the Chicago Mercantile Exchange, Class III milk futures were higher, following through from Thursday and watching the weather. January was up $.02 at $13.78 and February was $.20 higher at $14.18, while March was up $.17 at $14.16 and April was $.07 higher at $14.28.

For the week, butter averaged $2.115, up $.0775. USDA reports production is active across the U.S., with many processors at full capacity, getting ready for second and third quarter demand. A cooperative export assistance program accepted requests for 1.3 million pounds of butter.

Cash cheese barrels averaged $1.525, up $.02, and blocks averaged $1.49, $.0085 higher. Cheese production was steady to active, with an increase in Mozzarella production for frozen pizza use. Winter weather is disrupting production in parts of the Midwest. Plants in New Mexico are continuing to deal with the after effects of winter storm Goliath.

The weekly average for Grade A nonfat dry milk was $.74, down $.0035. The low and high heat price ranges have expanded in the Central and East regions, with active production reported. Dry whey prices were steady to higher with active production and steady inventories in the Central region.

The U.S. advertised price for 8 ounce conventional blocks of cheese was $2.35, up $.02 on the year, and 8 ounce shreds averaged $2.51, down $.03 from a year ago. Conventional milk ads were up 1% on the week, but organic was down 30%.

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