Market News

Milk futures lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange ended the week lower as cash cheese prices slide and global dairy demand weakens.

July Class III milk down a penny at $24.41.  August down 75 cents at $21.75.  September 71 cents lower at $20.15.  October 35 cents lower at $18.77.  November through January contracts unchanged to 29 cents lower.

Dry whey unchanged at $0.34. 

Blocks down $0.0450 at $2.54.  Two trades were made at that price.

Barrels unchanged at $2.45.  Three trades were made at that price.

Butter up 0.0225 at $1.73.  Three trades were made ranging from $1.7150 to $1.73.

Nonfat dry milk down $0.0025 at $0.99. 

The National Milk Producers Federation says the House passed ag appropriations bill has many gains for dairy.

A top priority for the organization, enforcement of dairy product standards of identity, was included in a bipartisan amendment that allocates $5 million for FDA to enforce federal rules on dairy product terms.

The bill also sets aside $6 million for the Dairy Business Innovation Initiatives program and $1 million for the Healthy Fluid Milk Incentives Projects program.