Market News

Milk futures lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange continued to slide Wednesday with a major sell off for February contracts pressured somewhat by negative cash cheese trade.

January Class III milk down four cents at $16.18.  February down $1.35 at $17.13.  March 83 cents lower at $17.78.  April down 62 cents at $17.60.  May through July contracts 12 to 29 cents lower.

Dry whey unchanged at $0.5350. 

Blocks down $0.07 at $1.73. 

Barrels down $0.12 at $1.44.  One sale was made at that price.

Butter up $0.05 at $1.4550.  Four trades were made ranging from $1.42 to $1.4550. 

Nonfat dry milk down $0.0150 at $1.20.  One sale was made at that price.