Market News

Milk futures, cash dairy trade higher

Milk futures on the Chicago Mercantile Exchange end the week with strong gains supported by strong cheese markets and positive reaction to a bullish milk production report.

November Class III milk six cents higher at $17.97. December $1.09 higher at $17.48. January up 98 cents at $18.98. February 63 cents higher at $19.10. March through May a penny 23 to 38 cents higher.

Dry whey unchanged at $0.70.

Blocks up $0.1275 at $1.8575. Three trades were made from $1.73 to $1.8575.

Barrels up $0.0650 at $1.52. Nine trades were made from $1.4575 to $1.55.

Butter up $0.01 at $2.0475.

Nonfat dry milk up $0.0250 at $1.55. Eight trades were made from $1.54 to $1.5625.