Market News

Milk futures, cash dairy higher

Milk futures on the Chicago Mercantile Exchange found strength Thursday following a bullish milk production report and positive cash trade. 

May Class III milk was up 14 cents at $25.12.  June 23 cents higher at $24.80.  July up 45 cents at $24.85.  August 44 cents higher at $24.48.  September through November 16 to 39 cents higher. 

Dry whey down $0.0025 at $0.50.  Six sales were made from $0.49 to $0.5025.   

Blocks up $0.0050 at $2.38.  One trade was made at that price. 

Barrels down $0.05 at $2.40.  Two trades were made at $2.40 to $2.42.   

Butter up $0.0350 at $2.8275.  Nine sales were made from $2.80 to $2.8325.   

Nonfat dry milk up $0.0450 at $1.79. Two trades were made at $1.79 and $1.7925.   

For June, the USDA has set the base Class I milk price at $25.87 per hundredweight, up $0.42 from May, with the base Class I skim price at $15.66, up $0.67.