Market News

Milk futures, cash dairy mostly higher

Milk futures on the Chicago Mercantile Exchange continued higher supported by global optimism.

January Class III milk up two cents at $17.03.  February up 11 cents at $17.54.  March 14 cents higher at $17.76.  April up 18 cents at $17.69.  May through August contracts 12 to 15 cents higher.

Dry whey down $0.0050 at $0.3625.  Nine sales were made at $0.3625 and $0.3650. 

Blocks up $0.0025 at $1.9650.  Three trades were made at $1.9475 and $1.9550. 

Barrels up $0.0350 at $1.5975.  Four trades were made at $1.5975 and $1.6025. 

Butter unchanged at $1.88. 

Nonfat dry milk up $0.0050 at $1.2950. 

The Global Dairy Trade auction index in New Zealand traded nearly two percent higher, building on previous improvements. The index increased to $3,371 per ton. Butter had the largest gain, up 5.5 percent, followed by rennet casein and whole milk powder. Anhydrous milk fat posted the only decline, down 2.6 percent.