Friday Closing Dairy Market Update - Class III Futures Close Lower for the Week

GENERAL OVERVIEW:

Milk futures closed with mostly double-digit gains. Class III futures closed mostly higher despite weakness in the block cheese market. However, futures closed lower for the week. Class IV futures closed significantly higher for the week.

MILK:

Class III futures slowly drifted lower throughout the week despite hot temperatures across the country. Class prices were announced this week with Class III $1.12 higher than July although 60 cents below August 2025. Class IV saw a decline of 98 cents from the previous month and $1.14 lower than a year ago. Class II also saw a decline from July of $3.18 but only 47 cents lower than 2025. Class IV futures also drifted lower this week with pressure from its components which also drifted lower.

AVERAGE CLASS III PRICES:

3 Month:	$16.40
6 Month:	$16.69
9 Month:	$16.94
12 Month:	$17.13

CHEESE:

For the week, blocks decreased 3 cents with 51 loads traded. The weekly average price is $1.4750. Barrels were 4.25 cents lower from the close of the previous week with no loads traded. The weekly average price is $1.5390. Dry whey increased 3.25 cents with 7 loads traded. The weekly average price is 74.40 cents.

BUTTER:

For the week, butter fell 2 cents with 82 loads traded. The weekly average price is $1.4260. Grade A nonfat dry milk increased 3 cents with 29 loads traded. The weekly average price is $1.8820. The nonfat dry milk price has increased 49.50 cents since the low on July 27.

OUTSIDE MARKETS SUMMARY:

December corn closed down 4.00 cents per bushel at $5.3675, November soybeans closed down 6.50 cents at $13.0975, and December soybean meal closed down $.40 per ton at $355.10. December Chicago wheat closed down 20.25 cents at $7.3400.

October live cattle closed down $1.35 at $212.95. October crude oil is down $0.05 per barrel at $91.25. The Dow Jones Industrial Average is down 271 points at 53,414 and the NASDAQ is down 77 points at 26,506.

Friday Midday Dairy Market Summary - Class III Trading Lower

OUTSIDE MARKETS SUMMARY:

CORN:	4 Lower
SOYBEANS:	7 Lower
SOYBEAN MEAL:	$0.11 Lower
LIVE CATTLE:	$4.80 Lower
DOW JONES:	278 Points Lower
NASDAQ:	80 Points Lower
CRUDE OIL:	$0.38 Lower

MIDDAY MARKET UPDATE:

The block cheese price traded 1.25 cents lower today closing at $1.4650 with 14 loads traded. The barrel cheese price was unchanged at $1.5325 with no loads traded. The dry whey price climbed 0.25 cents, closing at 75.25 cents with 1 load traded. Class III futures are trading anywhere from 17 to 30 cents lower here at the midday point. The butter price was up unchanged at $1.44 with no loads traded. There were 51 unfilled offers and no bids remaining at the close. Grade A nonfat dry milk was unchanged at $1.88 with no loads traded. Class IV futures are mixed from 15 cents higher to 19 cents lower. Butter futures are 0.5 to 1.525 cents lower. Dry whey futures are trading 0.25 cents lower. Cheese futures are 1.7 to 2.4 cents lower. Nonfat dry milk futures are 0.325 to 1.275 cents lower.

Friday Morning Dairy Market Update - Milk Prices Mixed

OPENING CALLS:

Class III Milk Futures:	1 to 5 Lower
Class IV Milk Futures:	10 to 15 Higher
Butter Futures:	Mixed

OUTSIDE MARKET OPENING CALLS:

Corn Futures:	1 to 2 Lower
Soybean Futures:	2 to 3 Lower
Soybean Meal Futures:	$0.20 to $0.30 Lower
Wheat Futures:	1 to 4 Lower

MILK:

Nonfat Grade A milk is the only cash market to average higher prices this week versus last week. While the Dairy Products report showed most products having higher production in July 2026 versus last year, skim milk powder stood out with a drop of 50.3% from 2025.

CHEESE:

Cheese is trading slightly lower in the overnight trade. Block cheese has gained the last several trading days in the cash market, although still trending lower than last week's average. The Dairy Products report had total cheese production at 1.26 billion pounds of cheese, up 2.1% from a year ago and 2.3% higher month-over-month. Italian-type cheese had the greatest spike in production with an increase of 5.5% above last month and 4.1% above 2025.

BUTTER:

Butter had a nice rebound in cash price after a disappointing week on Thursday trading 3.25 cents higher yet still trending 4 cents lower than last week's average. So far, 82 loads of butter traded in the cash market this week. Overnights are mixed from 1.525 cents lower to 1.85 cents higher.