Market News

Milk futures, cash cheese lower

Class III milk futures at the Chicago Mercantile Exchange resumed the recent trend, taking back Tuesday’s gains, and then some, in most months. March was $.06 lower at $15.66, April was down $.27 at $15.24, May was $.39 lower at $15.36, and June was down $.32 at $15.83.

Cash cheese blocks were down $.01 at $1.36. There were four loads sold, including two at $1.36. The last uncovered offer was for one load at $1.37. Barrels were $.025 lower at $1.375. There were two loads sold, one at $1.375 and one at $1.395. The last uncovered offer was for one load at $1.40.

Butter was down $.03 at $2.15. There was one load sold at $2.15.

Nonfat dry milk was $.01 lower at $.795. There were a total of six loads sold, including three at $.79. The last unfilled bid was on one load at $.795. The last uncovered offer was for one load at $.80.

The USDA reports cash butter for the week ending March 11th averaged $2.19 per pound, up $.034 on the week. 40 pound blocks of cheddar came out at $1.59, down $.043. 500 pound barrels averaged $1.59, $.062 lower. Dry whey was pegged at $.52, $.008 higher. Nonfat dry milk averaged $.849, a drop of $.078.

California’s Department of Food and Agriculture says nonfat dry milk for the week ending March 10th averaged $.8337 per pound, down $.0921 on the week. Sales were 16,423,208 pounds, a jump of 10,249,411 from the week before.

According to HighGround Dairy, milk production in the United Kingdom, for the week ending March 4th, was down 0.7% on the year, and milk production in France, for the week ending March 5th, was 1.6% lower than last year.

Email this to someoneShare on FacebookTweet about this on TwitterShare on Google+Print this page

Add Comment

Your email address will not be published.


 

stay up to date

Subscribe for our newsletter today and receive relevant news straight to your inbox!