Market News

Milk futures, cash dairy mixed

In Class III trade at the Chicago Mercantile Exchange, milk futures were mixed, with nearby contracts down on spread trade. January was $.02 lower at $16.79, February was down $.15 at $17.03, March was up $.03 at $17.46, and April was $.01 higher at $17.61.

Cash cheese was lower. Blocks were down $.02 at $1.705. There were a total of four trades reported, including one at $1.705. The last unfilled bid was on one load at $1.69. Barrels were $.0025 lower at $1.6375. There was one trade at $1.645. The last uncovered offer was for one load at $1.6375.

Butter was up $.015 at $2.24. There were two loads sold, both at $2.24.

Nonfat dry milk held at $1.0325. The last unfilled bid was on two loads at $1.0225. The last uncovered offer was for one load at $1.035.

The Global Dairy Trade index was up 0.6% at $3,517 per ton. Rennet casein was up 4.9% and anhydrous milk fat was 3.7% higher, while butter milk powder dropped 10.1%. The next event is scheduled for February 7th.