Market News

Milk futures, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange closed mixed at midweek while traders remain mostly inactive over the holiday week.

January Class III milk down 20 cents at $16.06.  February two cents lower at $17.91.  March two cents higher at $17.79.  April up five cents at $17.54.  May through July contracts four cents lower to a nickel higher.

Dry whey unchanged at $0.4675. 

Blocks up $0.0050 at $1.64.  One sale was made at that price.

Barrels up $0.0150 at $1.5075.  One sale was made at that price.

Butter down $0.0450 at $1.4475. 

Nonfat dry milk up $0.0050 at $1.14.  One sale was made at that price.

The USDA has made nearly $3 billion in combined direct milk payments to farmers through the Coronavirus Food Assistance Program.

As of December 27th, the agency has approved more 23,000 applications for the second round of funding. 

Wisconsin dairy farmers represent a quarter of applications and nearly 20 percent of milk payments for CFAP2. 

Dairy farmers in California, New York, Minnesota, and Michigan round out the top five states for CFAP2 with nearly $1.2 billion made in milk payments so far.