Market News

Milk futures break $24, cash dairy flat

Milk futures on the Chicago Mercantile Exchange closed higher Thursday ahead of Friday’s supply and demand report and as cash cheese prices continue to push higher.

July Class III milk 50 cents higher at $24.17.  August up 75 cents at $22.28.  September 75 cents higher at $19.82.  October 44 cents higher at $18.37.  November through January contracts 12 to 15 cents higher.

Dry whey unchanged at $0.2875. 

Blocks up $0.0925 at $2.83.  Five trades were made ranging from $2.82 to $2.83. 

Barrels unchanged at $2.40. 

Butter unchanged at $1.6875.  Three trades were made ranging from $1.6875 to $1.71.

Nonfat dry milk unchanged at $1.0325. 

The National Milk Producers Federation says USDA’s initial Foot and Mouth Disease vaccine purchase this week is a critical step in modernizing FMD preparedness for U.S.  The Federation says while the U.S. has not had an FMD outbreak since 1929, recent foreign animal disease outbreaks have focused attention on the importance of preparedness for other diseases which would have profound effects on international trade and animal health.