In Class III trade at the Chicago Mercantile Exchange, milk futures were mostly, modestly higher. February was down $.03 at $13.78 and March was up $.01 at $13.97, while April was $.02 higher at $14.03 and May was up $.03 at $14.15.
Over in the spot market, cash cheese barrels were unchanged at $1.465. Blocks were $.02 higher at $1.49. There were eight loads sold, from $1.48 to $1.49, including six at the closing price. The last bid unfilled was on one load at the closing price.
Butter was down $.01 at $2.125, with one load sold.
Grade A nonfat dry milk was up $.02 at $.75. The last bid unfilled was on two loads at $.75.
For the week ending February 6th, the USDA reports the price for AA standard butter was $2.17 per pound, up 2.2 cents, with weekly sales of more than 5 million pounds. 40 pound blocks of cheddar averaged $1.50, up four tenths of a cent, and 500 pound barrels adjusted for 38% moisture came out at $1.51, down 3.2 cents. Block sales were 11.7 million pounds and barrel sales were 9.5 million. Extra grade dry whey was pegged at $.248, nine tenths of a cent higher, and Grade A nonfat dry milk averaged $.774, up two tenths. Dry whey sales were 7.2 million pounds and weekly NFDM sales were 17.5 million.
