Chicago Mercantile Exchange Class III milk futures were pressured by the USDA’s monthly cold storage and milk production numbers. January was down $.02 at $16.74, February was $.13 lower at $16.57, March was down $.16 at $16.98, and April was $.22 lower at $17.28.
Cash cheese blocks held at $1.64. There were a total of four loads sold, three at $1.63 and one at $1.64. The last uncovered offer was for one load at $1.65. Barrels were $.02 lower at $1.46. There were a total of nine loads sold, including three at $1.46 and three at $1.47. The last unfilled bid was on one load at $1.4525. The last uncovered offer was for one load at $1.47.
Butter was down $.02 at $2.1975. The last uncovered offer was for one load at $2.1975.
Nonfat dry milk was unchanged at $.985. The last unfilled bid was on one load at $.9825. The last uncovered offer was for one load at $1.01.
The USDA reports cash butter for the week ending January 21st averaged $2.27 per pound, up $.038 on the week. 40 pound blocks of cheddar came out at $1.71, $.005 higher. 500 pound barrels averaged $1.65, up a penny. Dry whey came out at $.445, $.008 higher. Nonfat dry milk averaged $1.03, up $.004.
Source: Brownfield AgNews
