In Class III trade at the Chicago Mercantile Exchange, milk futures were mixed on spread activity. September was down $.02 at $16.45, October was $.03 lower at $16.47, and November was down $.03 at $16.42, while December was up $.02 at $16.13.
Cash cheese was mixed. Blocks were up $.005 at $1.67. There were five trades reported, two at the closing price. The last unfilled bid was on one load at $1.665. Barrels were down $.0225 at $1.5275. There were a total of five loads sold, one at the closing price. The last unfilled bid was on four loads at $1.525.
Butter was $.0225 lower at $2.01. There was one load sold at that price. The last unfilled bid was on one load at $2.00.
Nonfat dry milk was unchanged at $.905. The last unfilled bid was on one load at $.89.
The California Department of Food and Agriculture reports the average nonfat dry milk price for the week ending September 9th was $.86 per pound, up $.015 on the week, with sales of 9.7 million pounds, down more than a million from the week before.
For the week ending September 10th, the USDA says butter averaged $2.10 per pound, down 2.2 cents on the week. 40 pound blocks of cheddar cheese were pegged at $1.80, 2.9 cents lower, and 500 pound barrels averaged $1.76, an 11.5 cent drop. Dry whey came out at $.297, a slight week to week decrease. Nonfat dry milk averaged $.882, up 2.9 cents.
HighGround Dairy says European Union dairy prices were higher, with most commodities up about 3% on the week. French whey powder prices did jump 12.2%, hitting two year highs. Milk production for the year to date in France, Germany, and the United Kingdom are below year ago levels. The European Commission reduced its 2016 milk production guess, now only calling for a year to year increase of 0.9%.
Source: Brownfield Ag News
