Market News

Milk futures, cash dairy mostly higher

Milk futures on the Chicago Mercantile Exchange closed Wednesday higher as optimism from Tuesday’s global trade carried over into markets.

March Class III milk up six cents at $16.40.  April up 14 cents at $17.94.  May 16 cents higher at $18.15.  June up 19 cents at $18.19.  July through September contracts nine cents higher.

Dry whey unchanged at $0.5650.  

Blocks up $0.02 at $1.65.  One sale was made at $1.6125.

Barrels unchanged at $1.42. 

Butter down $0.0250 at $1.69.  Seventeen trades were made ranging from $1.6775 to $1.70.

Nonfat dry milk down $0.0025 at $1.1750.  Three trades were made at $1.1725 and $1.1750.

The USDA has adjusted February Class and Component prices lower.  The Class II milk price was set at $14.00 per hundredweight, down $0.18 from January, the Class III price was $15.75, $0.29 lower, and Class IV was $13.19, down $0.56.