Market News

Milk futures, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange were mostly higher Thursday ahead of a mostly neutral milk production report but reduced class and component prices for February.

January Class III milk down a nickel at $17.00.  February up 18 cents at $17.98.  March 22 cents higher at $18.17.  April up 13 cents at $17.91.  May through August contracts a penny lower to seven cents higher.

Dry whey up $0.0025 at $0.36.  Twenty-two sales were made at $0.3575 and $0.36.

Blocks unchanged at $2.0025.  Two trades were made at that price.

Barrels up $0.0050 at $1.63.  Six trades were made at $1.63 and $1.6325. 

Butter up $0.0025 at $1.8675.  Three trades were made ranging from $1.86 to $1.8675.

Nonfat dry milk down $0.0075 at $1.29.  Ten trades were made ranging from $1.2850 to $1.2950. 

For February, the USDA has set the base Class I milk price at $17.55 per hundredweight, down $1.46 from January, with the base Class I skim price at $10.46, down $1.25.

The National Milk Producers Federation is welcoming EPA’s final WOTUS rule and says they believe it will provide much-needed clarity for farmers while not imposing on state jurisdictions.