Market News

Milk futures higher, cash dairy mostly steady

Class III milk futures at the Chicago Mercantile Exchange followed through on Tuesday’s bounce. April was up $.05 at $15.19, May was $.26 higher at $15.49, June was up $.23 at $15.55, and July was $.14 higher at $16.02.

Cash cheese blocks were up $.015 at $1.475. The last unfilled bid was on one load at $1.475. Barrels were unchanged at $1.4275. 11 loads were sold, all at $1.4275. The last uncovered offer was for two loads at $1.43.

Butter held at $2.09. The last unfilled bid was for five loads at $2.07. The last uncovered offer was on one load at $2.095.

Nonfat dry milk was steady at $.825. The last unfilled bid was on one load at $.8225. The last uncovered offer was for two loads at $.85.

The USDA says cash butter for the week ending April 8th averaged $2.13 per pound, down $.017 on the week. 40 pound blocks of cheddar came out at $1.47, $.015 higher. 500 pound barrels averaged $1.45, up $.01. Dry whey was pegged at $.534, $.005 higher. Nonfat dry milk averaged $.825, $.002 lower.

According to HighGround Dairy, milk production in the United Kingdom for the week ending April 1st was up 0.6% on the week and milk production in France for the week ending April 2nd was 0.2% higher.