Block and barrel cheese prices remained unchanged at $1.61 and $1.3925, respectively. There were 2 loads traded of barrels and none of blocks. Barrel price initially declined 0.25 cents before coming back to settle unchanged. This did not change the bearishness of Class III futures and added to it. February moved limit down for a time with price back to the lowest level it has been since late June and solidly below $16.00. March fell below $17.00. Futures are 3 cents higher to 73 cents lower. Some pressure might have spilled over from the weakness of butter as price declined 4.25 cents, ending at $1.36 with 4 loads traded. Grade A nonfat dry milk price declined a penny to $1.1625 with no loads traded. Dry whey remained unchanged at 54 cents with no loads traded. Class IV futures are 32 cents lower. Butter futures are 0.02 to 3.22 cents lower. Dry whey futures are 0.15 to 1.20 cents lower. USDA will release the December Milk Production report Monday afternoon, I estimate milk production to be up 2.9% from a year ago with cow numbers 6,000 head above November.
Thursday Closing Dairy Market Update - Report Says Dairy Cattle Slaughter Down
MILK Milk futures continued their pattern of volatility with prices rebounding from Wednesday's losses. It seemed the markets re...
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MILK There had been some optimism that lower milk production in February would get the attention of cheese buyers and they would ste...
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Cheese prices moved up on bids and no sales taking place. Blocks increased 0.75 cent, closing at $1.8075 and barrels increased 0.50 cent, ...
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MILK The had been some hope earlier in the week that spot prices had found a bottom and milk futures would be supported. However, th...