MILK:
Class III milk futures were 15 cents lower to 6 cents higher. Class IV futures were 9 cents lower to 24 cents higher. The Global Dairy Trade (GDT) auction revealed anhydrous milk fat averaged $2.6358 per pound, falling 1.7% from the last event. Whole milk powder declined 4% to $1.6207 per pound. Skim milk powder also declined, falling 1.6% to $1.5862 per pound.
AVERAGE CLASS III PRICES:
| 3 Month: | $21.75 |
| 6 Month: | $21.21 |
| 9 Month: | $20.98 |
| 12 Month: | $20.88 |
CHEESE:
Cheese barrels slipped a half cent, closing at $2.2225 with no loads traded, while blocks increased 2.25 cents to $2.0225 with two loads traded. The GDT showed cheddar price was down 3.8% to $2.2525 per pound. Retail demand is still declining due to higher prices. There is some concern because of recent price drops on international markets, which it's going to put pressure on domestic market prices or export sales.
BUTTER:
Spot butter price continued to climb, moving 3 cents to $3.2400 with nine loads traded. The GDT for butter price dropped 7% to $2.2602 per pound. Buttermilk powder declined 4.4% to average $1.5304 per pound. Prices haven't been that low since September last year when it was at $1.4910 per pound.
OUTSIDE MARKETS SUMMARY:
December corn futures settled at $6.8400 per bushel, moving up a penny. November soybeans declined 13.75 cents to $13.6975 per bushel. Soybean meal for October slipped 0.5 cents to $402.50 per ton. December wheat declined $1.00 to $9.02 per bushel. Live cattle futures for October increased 0.475 cents to $144.675 per barrel. The DOW fell 42 points to 30,273, and NASDAQ declined 27 points to 11,148.
