Block cheese price increased 2.25 cents, closing at $1.6525 with 8 loads traded. Barrel cheese price increased 2.25 cents, closing at $1.4575 with 5 loads traded. There was an unfilled bid for a load of blocks and a load of barrels. Butter price increased 3 cents, closing at $1.4750 with 8 loads traded. Grade A nonfat dry milk price increased 0.50 cent, ending at $1.1425 with one load traded. Dry whey price remained unchanged at 46.75 with no loads traded. Class III futures are 5 cents lower to 36 cents higher. Front-month December shows the only loss while February shows the greatest gain. Futures are well off their highs but retain nice gains. If futures can hold into the close, it will be the highest close for February through June contracts. Class IV futures have not yet traded. Butter futures are 0.67 to 2.00 cents higher. Dry whey futures are 0.95 cent lower to 0.10 cent higher.
Monday Closing Dairy Market Update - Milk Futures Were Unable to Find Support
GENERAL OVERVIEW: The weakness in Class III futures was expected because of the decline in cheese prices. The weakness in Class IV fut...
-
GENERAL OVERVIEW: Traders had something to get excited over, resulting in milk futures increasing significantly. The strength in che...
-
California milk production is seasonally decreasing but still supplying the needs of dairy commodity manufacturers. Processors report milk a...
-
GENERAL OVERVIEW: Class III milk futures closed lower in most traded contracts. The weakness of blocks triggered selling as traders ...
