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