Market News

Milk futures, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange traded mostly lower following the direction of grain markets while cash trade was mixed.

May Class III milk up five cents at $18.93. June down 18 cents at $18.30. July down two cents at $19.10. August down two cents at $19.25. September through November contracts six to 10 cents higher.

Dry whey up $0.0050 at $0.64. One sale was made at that price.

Blocks down $0.03 at $1.6025. Ten trades were made from $1.60 to $1.63.

Barrels down $0.0025 at $1.6250. Twelve sales were made from $1.6250 to $1.63.

Butter up $0.0025 at $1.8550. One sale was made at that price.

Nonfat dry milk down $0.01 at $1.3025. Six sales were made from $1.3025 to $1.31.

For June, the USDA has set the base Class I milk price at $18.29 per hundredweight, up $1.19 from May, with the base Class I skim price at $11.82, up $1.26.