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Milk futures mostly higher, cash dairy mostly steady

Class III milk futures at the Chicago Mercantile Exchange were mostly modestly higher on follow through buying and spread activity. April was up $.03 at $15.19, May was $.04 higher at $15.63, June was up $.08 at $16.01, and July was $.05 higher at $16.55.

Cash cheese blocks were unchanged at $1.445. Barrels were steady at $1.37. The last uncovered offer was for one load at $1.37.

Butter held at $2.10. There was one load sold at $2.10. The last unfilled bid was on one load at $2.09. The last uncovered offer was for one load at $2.10.

Nonfat dry milk was $.0075 lower at $.8075. There was one load sold at $.8075. The last unfilled bid was on two loads at $.79. The last uncovered offer was for five loads at $.83.

The USDA says cash butter for the week ending March 25th averaged $2.17 per pound, down $.026 on the week. 40 pound blocks of cheddar were pegged at $1.48, $.059 lower. 500 pound barrels averaged $1.47, down $.052. Dry whey was reported at $.531, up $.005. Nonfat dry milk averaged $.838, $.014 lower.

California’s Department of Food and Agriculture reports nonfat dry milk for the week ending March 24th averaged $.8308 per pound, down $.0117 on the week. Sales of 21,067,814 pounds were up 2,320,292.

HighGround Dairy says that for the week ending March 18th, milk production in the United Kingdom was up 1.3% on the year and for the week ending March 19th, milk production in France was 0.1% lower. Milk production in New Zealand for February was 3.3% higher than a year ago.

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