GENERAL OVERVIEW:
Class III ended the short trading week mixed. Class IV futures closed with double-digit gains. The July advanced Class I price declined from June.
MILK:
Milk futures stabilized for the most part, moving into the extended weekend. Underlying spot prices were mixed, providing some support. This does not indicate a change in trend, but a reprieve from the pressure of the week. Strong milk production will keep both bottling and manufacturing supplied. Spot milk prices have been better than usual for this time of year. The reason is that manufacturing capacity has increased over the past year or more, and plants are reaching out to the spot market for milk to utilize the increased capacity and keep plants efficient. This extra plant capacity is expected to be filled in time, but the current capacity is more than the usual number of patrons or suppliers can fill. Spot prices may increase significantly once schools reopen again and milk moves to bottling for school accounts. Maybe this could tighten the supply enough to increase milk prices. The July advanced Class I price is $21.33, down $0.85 from June, but $2.51 higher than July 2025. The markets will be closed on Friday for the Juneteenth federal holiday.
AVERAGE CLASS III PRICES:
| 3 Month: | $16.32 |
| 6 Month: | $16.97 |
| 9 Month: | $17.12 |
| 12 Month: | $17.15 |
CHEESE:
For the week, blocks declined 3.75 cents with 63 loads traded. The weekly average price is $1.4631. Barrels increased by 4.00 cents with no loads traded. The weekly average price is $1.4300. Dry whey remained steady at 68.00 cents with one load traded. The weekly average price is 68.31 cents.
BUTTER:
For the week, butter declined 11.75 cents with 51 loads traded. The weekly average price is $1.5838. Grade A nonfat dry milk declined 14.50 cents with 26 loads traded. The weekly average price is $1.6725. The slight bounce in the dry whey price today was the first increase after 11 consecutive days of declines.
OUTSIDE MARKETS SUMMARY:
July corn closed down 3.50 cents per bushel at $4.1750, November soybeans closed down 6.50 cents at $11.4275 and July soybean meal closed down $3.50 per ton at $301.30. September Chicago wheat closed down 7.25 cents at $6.1400. August live cattle closed down $2.23 at $246.63. August crude oil is down $0.16 per barrel at $75.85. The Dow Jones Industrial Average is up 128 points at 51,621, with the NASDAQ up 496 points at 26,518.
