Market News

Milk futures, cash dairy mostly lower

Class III milk futures at the Chicago Mercantile Exchange were mixed, consolidating and digesting the new USDA supply and demand numbers. March was down $.06 at $15.82, April was $.25 lower at $15.88, May was down $.20 at $16.05, and June was $.11 lower at $16.34.

Cash cheese blocks were $.0425 lower at $1.3975, below $1.40 for the first time since June 2016. There were five load sold, including one at $1.3975 and two at $1.45. The last uncovered offer was for one load at $1.40. Barrels were down $.05 at $1.40. There were seven loads sold, including three at $1.45 and one at $1.40. The last unfilled bid was on one load at $1.39. The last uncovered offer was for one load at $1.43.

Butter was $.035 lower at $2.1625. There was one load sold at $2.17. The last unfilled bid was on one load at $2.16. The last uncovered offer was for one load at $2.1625.

Nonfat dry milk was unchanged at $.81. The last unfilled bid was on one load at $.8075. The last uncovered offer was for six loads at $.82.