In Class III trade at the Chicago Mercantile Exchange, milk futures were mostly lower on spread trade and profit taking. January was down $.15 at $16.46, February held at $17.10, March was $.05 lower at $17.42, and April was down $.06 at $17.53.
Cash cheese blocks were down $.0125 at $1.655. The last uncovered offer was for one load at $1.655. Barrels were unchanged at $1.5575. There were a total of five trades, two each at $1.5775 and $1.5875, along with one load at $1.5675. The last uncovered offer was for one load at $1.5575.
Butter was $.0425 lower at $2.2675. There were six loads sold, including one at $2.2675 and three at $2.555. The last unfilled bid was on one load at $2.26.
Nonfat dry milk was unchanged at $1.02. The last unfilled bid was on six loads at $1.00. The last uncovered offer was for one load at $1.05.
The USDA reports butter for the week ending December 24th averaged $2.12 per pound, up $.018 on the week. 40 pound blocks of cheddar were pegged at $1.79, down $.045. 500 barrels of cheddar averaged $1.70, $.011 higher. Dry whey came out at $.406, up $.003. Nonfat dry milk averaged $.971, $.004 higher.
California’s Department of Food and Agriculture says nonfat dry milk for the week ending December 23rd averaged $.9615 per pound, up $.0019 on the week, and the fourth week in a row with an increase. Sales of 10,248,455 pounds were 5,782,345 higher than the previous week.
Source: Brownfield Ag News
