Market News

Milk futures, cash mostly lower

Milk futures on the Chicago Mercantile Exchange continued lower Thursday pressured by declining cash trade.

April Class III milk down five cents at $17.65.  May down 48 cents at $19.68.  June down 37 cents at $18.82.  July down 40 cents at $18.89.  August through October contracts 16 to 27 cents lower.

Dry whey down $0.0225 at $0.66.  One sale was made at that price. 

Blocks down $0.02 at $1.7750.  Five sales were made at that price.

Barrels down $0.01 at $1.7950.  Ten sales were made from $1.7775 to $1.7950.

Butter down $0.0525 at $1.74.  Eight sales were made from $1.73 to $1.7450.

Nonfat dry milk up $0.0125 at $1.2525.  Two sale was made at $1.25 and $1.2525. 

The USDA says dairy stocks continue to build during the month with total cheese stocks setting a new record.

Cheese stocks during March totaled more than 1.4 billion pounds, up seven percent from 2020 and up two percent on the month.

Butter inventories were up slightly from the previous month and up 15 percent higher than last year at more than 354 million pounds.