Block cheese declined 2 cents closing at $1.74 with no loads traded. This is the third day block price fell with sellers unable to uncover any buyer interest. Barrel cheese price declined 2.25 cents closing at $1.6575 with 2 loads traded. Price initially declined to $1.6475 before it came back by the close. There were 3 unfilled bids remaining under the market with those bids posted 6 cent to 8 cents lower. Butter price remained unchanged at $1.8775 with 2 loads traded. Grade A nonfat dry milk price gained 0.75 cent ending at $1.2125 with 8 loads traded. Dry whey price remained unchanged at 66 cents. Class III futures are 32 cents lower to 10 cents higher. The gain is in front-month April as the contract is basically priced by the trade and should flat-line for the next 2 1/2 weeks until the price announcement. Other contacts are quite a bit off their lows that were established early in the day. Class IV futures are 10 cents higher. Butter futures are 1.70 lower to 0.72 cent higher. Dry whey futures are 0.30 cent to 1.75 cents higher.
Wednesday Morning Dairy Market Update - Milk Futures Show Further Weakness
OPENING CALLS: Class III Milk Futures: 10 to 15 Lower Class IV Milk Futures: 5 to 10 Lower ...
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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...