Market News

Milk futures higher, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange turned back higher at midweek despite the continued decline in cheese markets.

November Class III milk up 15 cents at $20.19.  December up a dime at $18.79.  January 10 cents higher at $17.79.  February up nine cents at $17.19.  March through June contracts six to 13 cents higher.

Dry whey up $0.0075 at $0.29.  Six sales were made at $0.2875 and $0.29. 

Blocks down $0.03 at $1.91.  Four sales were made ranging from $1.8850 to $1.91.

Barrels down $0.0350 at $2.38.  Two trades were made at $2.27 and $2.28. 

Butter down $0.0025 at $2.0650.  One trade was made at that price. 

Nonfat dry milk unchanged at $1.2175.  Ten trades were made at that price.

Weekly European dairy prices were mixed on the week and the year.  Butter and whey powder are posting the largest declines for the week and year while skim milk powder has the largest gains.