In Class III trade at the Chicago Mercantile Exchange, milk futures were lower on profit taking. November was down $.06 at $16.74, December was $.27 lower at $16.86, January was down $.25 at $16.21, and February was $.15 lower at $16.15.
Cash cheese was lower. Blocks were down $.055 at $1.86. There were four loads sold at $1.845. The last unfilled bid was on one load at $1.86. Barrels were $.025 lower at $1.69. There were a total of five trades, three at $1.695, along with one at $1.70 and one at $1.71. The last unfilled bid was on one load at $1.68. The last uncovered offer was for one load at $1.69.
Butter was down $.0025 at $2.0475. There were four loads sold, one each at $2.03, $2.04, $2.0475, and $2.05. The last unfilled bid was on one load at $2.03.
Nonfat dry milk was $.005 higher at $.905. There were two loads sold at $.90. The last unfilled bid was on one load at $.905. The last uncovered offer was for one load at $.91.
The USDA says that for the week ending November 19th, butter averaged $1.94 per pound, up $.053 on the week. 40 pound blocks of cheddar were pegged at $1.82, $.086 higher. 500 pound barrels averaged $1.78, an increase of $.091. Dry whey came out at $.374, up $.007. Nonfat dry milk averaged $.912, $.004 higher.
The USDA has set the base Class I price for December at $16.88 per hundredweight, up $2.10, with a skim price of $9.84, $2.05 higher.
California’s Department of Food and Agriculture reports the state’s nonfat dry milk price for the week ending November 18th was $.9271, up $.0191 on the week, with sales of 7.377 million pounds, down 1.889 million.
Source: Brownfield Ag News
