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Milk Futures Mostly Lower


In Class III trade at the Chicago Mercantile Exchange, milk futures were mostly lower on spread trade and the bearish supply and demand situation. April was unchanged at $13.63, May was down $.07 at $13.13, June was up $.02 at $13.28, and July was 4.12 lower at $13.53.

Over in the spot market, cash cheese barrels were unchanged at $1.38 with three loads sold. Blocks were down $.0175 at $1.3625. There were a total of 21 loads sold, from nine at $1.38 to four at $1.3625. The last bid unfilled was on two loads at $1.36. The last offer uncovered was for one load at $1.3625.

Butter was steady at $2.04. The last bid unfilled was on one load at $2.03. The last offer uncovered was for one load at $2.07.

Nonfat dry milk was unchanged at $.775 with one load sold. The last bid unfilled was on one load at $.77. The last offer uncovered was for two loads at $.78.

The USDA reports that for the week ending April 23rd, butter averaged $2.09 per pound, up 3.7 cents on the week, with sales of 3.4 million pounds. 40 pound blocks of cheddar were pegged at $1.47 per pound, down 2.3, with sales of almost 13 million pounds. 500 pound barrels averaged $1.47, 1.4 cents lower, with sales of 10.5 million pounds. Dry whey came out at $.241, two tenths less than the previous week, with sales of 9.7 million pounds. Nonfat dry milk averaged $.727, three tenths higher, with sales of 23 million pounds.

Source: Brownfield Ag News


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