Class III milk futures at the Chicago Mercantile Exchange were mostly higher on spread trade and short covering. February was unchanged at $16.88, March was up $.12 at $17.03, April was $.13 higher at $17.13, and May was up $.09 at $17.18.
Cash cheese blocks were down $.005 at $1.605. There were a total of seven loads sold, including three at $1.605 and four at $1.61. The last uncovered offer was for one load at $1.61. Barrels were unchanged at $1.65. There were three loads sold at $1.65. The last unfilled bid was on one load at $1.64.
Butter was $.0275 higher at $2.1575. There was one load sold at $2.15. The last unfilled bid was on one load at $2.1575. The last uncovered offer was for one load at $2.17.
Nonfat dry milk was up $.0075 at $.91. There were two loads sold at $.91. The last unfilled bid was on one load at $.9025. The last uncovered offer was for one load at $.93.
The USDA reports butter for the week ending February 11th averaged $2.21 per pound, down $.021 on the week. 40 pound blocks of cheddar were pegged at $1.73, up $.01. 500 pound barrels averaged $1.59, $.019 lower. Dry whey came out at $.482, $.014 higher. Nonfat dry milk averaged $.991, a decline of $.028.
California’s Department of Food and Agriculture reports nonfat dry milk for the week ending February 10th averaged $.9979 per pound, down $.0297 on the week. Sales of 6,987,532 pounds were 2,295,149 below the week before.
Source: Brownfield Ag News
