MILK
Class III milk futures settled mixed with front months up 2-7 cents and deferred month off 6-7 cents. Class IV futures were flat to lower by 1-3 cents. Nonfat dry milk anywhere from down 60 cents to up 50 cents by late afternoon trade. Dry whey traded one contract up 50 cents. Cash markets were nothing to get excited about with no loads traded today.
AVERAGE CLASS III PRICES
| 3 Month: | $17.07 |
| 6 Month: | $17.70 |
| 9 Month: | $17.90 |
| 12 Month: | $18.03 |
CHEESE
Block cheese saw some relief, trading at 0.0550 cents and closing at $1.5000 after last week's losses with only two loads traded. Barrels were flat with one load traded at $1.4675. Cheese futures traded slightly higher in front months from 0.1 cent higher to 1.3 cents higher. Deferred months were slightly lower.
BUTTER
Butter was unchanged from yesterday at $2.5450 as no loads traded. Butter futures saw later-day gains in the February and March contracts, up 0.25 to 0.575 cent. We are keeping a cautious eye on current production and inventory levels.
OUTSIDE MARKETS SUMMARY
March corn closed up 0.25 cents per bushel at $4.4575, March soybeans closed up 11 cents at $12.2425 and March soybean meal closed down $1 per ton at $359.30. March Chicago wheat closed up 3.25 cents at $5.9650. February live cattle closed down $0.45 at $173.925. March crude oil is $1.32 per barrel at $74.56. The Dow Jones Industrial Average is up 141 points at 38,185 with the NASDAQ is up 13 points at 17,451.
