Market News

Milk futures higher, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange again closed higher Wednesday as global outlooks improve, cash trade was mixed.

June Class III milk up 11 cents at $20.75.  July up 37 cents at $19.79.  August up 20 cents at $18.09.  September a dime higher at $17.46.  October through December contracts unchanged to 12 cents higher.

Dry whey down $0.01 at $0.3050.   Seven trades were made ranging from $0.3050 to $0.3125.

Blocks unchanged at $2.50.  Two trades were made at that price.

Barrels up $0.0050 at $2.33.  Two trades were made at that price.

Butter down $0.0225 at $1.80.  Ten trades were made ranging from $1.7875 to $1.80. 

Nonfat dry milk up $0.0175 at $1.03.  Seventeen trades were made ranging from $1.02 to $1.0350.

For July, the USDA has set the base Class I milk price at $16.56 per hundredweight, up $5.14 from June, with the base Class I skim price at $10.62, up $3.54.