Market News

Milk futures, cash dairy mostly lower

Milk futures on the Chicago Mercantile Exchange ended the week lower as did most cash markets.

April Class III milk was up a penny at $24.32. May two cents lower at $24.55. June down four cents at $24.78. July 17 cents lower at $24.48. August through to October three to 27 cents lower.

Dry down $0.0050 at $0.6350. One sale was made at that price.

Blocks up $0.03 at $2.3925. Two sales were made at $2.38 and $2.39.

Barrels unchanged at $2.37. Five trades were made from $2.3625 to $2.37.

Butter down $0.0225 at $2.6675. Four trades were made from $2.6625 to $2.67.

Nonfat dry milk down $0.0225 at $1.7550. Eight trades were made from $1.7475 to $1.7550.

The USDA says cheese stocks are declining some while other types of cheese set a record for March.

Cheese stocks during March were down one percent on the month and the year at nearly 1.5 billion pounds. Other types of cheese, like mozzarella and parmesan, set a new monthly high record.

Butter inventories were up eight percent from the previous month but down 20 percent from last year at 283 million pounds.

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