Market News

Milk futures lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange closed lower Friday following the direction of most commodities pressured by rising interest rates. Cash markets were mixed as increasing cheese stocks are offset by rising demand.

October Class III milk down 56 cents at $20.90. November down 57 cents at $20.70. December down 75 cents at $20.43. January down 58 cents at $20.39. February through April contracts 10 to 51 cents lower.

Dry whey up $0.01 at $0.45. One sale was made at that price.

Blocks down $0.04 at $1.96. One sale was made at that price.

Barrels down $0.0050 at $2.1850. Three sales were made at $2.1850 and $2.19.

Butter up $0.0025 at $3.1325. One sale was made at that price.

Nonfat dry milk up $0.02 at $1.58. Two sales were made at $1.58 and $1.5825.

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