Market News

Milk futures lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange dropped Thursday as the selloff in most ag commodities continues, cash markets were mixed.

June Class III milk down 13 cents at $17.21. July down three cents at $16.57. August down 19 cents at $16.60. September 32 cents lower at $17.28. October through December contracts 14 to 22 cents lower.

Dry whey down $0.0175 at $0.5775.

Blocks unchanged at $1.49.

Barrels up $0.01 at $1.50.

Butter down $0.0125 at $1.7175.

Nonfat dry milk unchanged at $1.2575. Two trades were made at that price.

The May dairy cow slaughter was 223,400 head, down 34,100 head from April, but up 10,000 head.

The year-to-date slaughter of 1,325,600 head is 39,700 behind last year’s pace.