Thursday Closing Dairy Market Update - The July Class I Price is $21.33

GENERAL OVERVIEW:

Class III ended the short trading week mixed. Class IV futures closed with double-digit gains. The July advanced Class I price declined from June.

MILK:

Milk futures stabilized for the most part, moving into the extended weekend. Underlying spot prices were mixed, providing some support. This does not indicate a change in trend, but a reprieve from the pressure of the week. Strong milk production will keep both bottling and manufacturing supplied. Spot milk prices have been better than usual for this time of year. The reason is that manufacturing capacity has increased over the past year or more, and plants are reaching out to the spot market for milk to utilize the increased capacity and keep plants efficient. This extra plant capacity is expected to be filled in time, but the current capacity is more than the usual number of patrons or suppliers can fill. Spot prices may increase significantly once schools reopen again and milk moves to bottling for school accounts. Maybe this could tighten the supply enough to increase milk prices. The July advanced Class I price is $21.33, down $0.85 from June, but $2.51 higher than July 2025. The markets will be closed on Friday for the Juneteenth federal holiday.

AVERAGE CLASS III PRICES:

3 Month:	$16.32
6 Month:	$16.97
9 Month:	$17.12
12 Month:	$17.15

CHEESE:

For the week, blocks declined 3.75 cents with 63 loads traded. The weekly average price is $1.4631. Barrels increased by 4.00 cents with no loads traded. The weekly average price is $1.4300. Dry whey remained steady at 68.00 cents with one load traded. The weekly average price is 68.31 cents.

BUTTER:

For the week, butter declined 11.75 cents with 51 loads traded. The weekly average price is $1.5838. Grade A nonfat dry milk declined 14.50 cents with 26 loads traded. The weekly average price is $1.6725. The slight bounce in the dry whey price today was the first increase after 11 consecutive days of declines.

OUTSIDE MARKETS SUMMARY:

July corn closed down 3.50 cents per bushel at $4.1750, November soybeans closed down 6.50 cents at $11.4275 and July soybean meal closed down $3.50 per ton at $301.30. September Chicago wheat closed down 7.25 cents at $6.1400. August live cattle closed down $2.23 at $246.63. August crude oil is down $0.16 per barrel at $75.85. The Dow Jones Industrial Average is up 128 points at 51,621, with the NASDAQ up 496 points at 26,518.

Fluid Milk and Cream - Western U.S. Report 25

California milk production is lighter, but stakeholders report decreases are not dramatic. Year-over-year milk production is up. Some manufacturers' milk intakes are above anticipated volumes, partly due to planned downtime at some manufacturing facilities. Spot loads of milk are available. 

Arizona and New Mexico farm level milk output is lighter. 

Pacific Northwest milk production is steady. Some manufacturers are bringing in spot milk loads. 

Week-to-week farm level milk output is mixed in the mountain states of Idaho, Utah, and Colorado. Idaho handlers note cooler than normal temperatures are keeping cow comfort close to ideal, contributing to a strong spring milking season. Manufacturers report milk output is readily meeting production schedule needs. Class I and III demand is steady. Class II and IV demands vary from stronger to lighter. 

Cream spot loads are available. Cream multiples increased at the bottom end of the AllClasses range. Demand is steady. Condensed skim milk availability is mixed. Demand is steady.

Thursday Midday Dairy Market Summary - Barrels Show Surprising Strength

OUTSIDE MARKETS SUMMARY:

CORN:	5 Lower
SOYBEANS:	10 Lower
SOYBEAN MEAL:	$2.60 Lower
LIVE CATTLE:	$1.22 Lower
DOW JONES:	181 Points Higher
NASDAQ:	445 Points Higher
CRUDE OIL:	$1.38 Lower

MIDDAY MARKET UPDATE:

The block cheese price decreased 0.75 cent to close at $1.45 with 35 loads traded. There have been 63 loads traded during the week. The barrel cheese price increased 4.00 cents to close at $1.46 with no loads traded. Only a buyer showed up looking for a load to purchase. Raising the bid did not get the interest of a seller. The dry whey price increased 0.25 cent to close at 68.00 cents with one load traded. Class III futures are mixed, ranging from 13 cents lower to 5 cents higher. The butter price remained steady at $1.5550 with 20 loads traded. Grade A nonfat dry milk increased 0.50 cent to close at $1.64 with 2 loads traded. This is the first price increase after 11 consecutive days of declines. Class IV futures are 12--29 cents higher on short-covering rather than a change in trend. Butter futures are 1.05 cents lower to 1.22 cents higher. Dry whey futures are steady to 0.27 cent higher. Cheese futures are 0.90 cent lower to 0.80 cent higher. Nonfat dry milk futures are 0.77--2.25 cents higher.