In Class III trade at the Chicago Mercantile Exchange, milk futures were higher, buying back part of Wednesday’s post-USDA report losses. November was up $.02 at $16.81, December was $.17 higher at $16.65, January was up $.18 at $15.96, and February was $.17 higher at $15.98.
Cash cheese blocks were unchanged at $1.9425. Barrels were four cents lower at $1.79 with four loads sold. The last uncovered offer was for one load at $1.795.
Butter was $.045 higher at $1.955. There were a total of 11 loads sold, one at $1.955 and nine at $1.9625. The last unfilled bid was on two loads at $1.955. The last uncovered offer was for one load at $1.97.
Nonfat dry milk was up $.0075 at $.88 with one load sold. The last unfilled bid was on one load at $.88. The last uncovered offer was for two loads at $.89.
The USDA says cash butter for the week ending November 5th averaged $1.87 per pound, up $.05 on the week. 40 pound blocks of cheddar came out at $1.64, $.037 higher. 500 pound barrels averaged $1.60, an increase of $.024. Dry whey was pegged at $.357, up $.012. Nonfat dry milk averaged $.911, down $.001.
California’s Department of Food and Agriculture reports nonfat dry milk during the week ending November 4th averaged $.9081, $.0147 higher. Sales of nearly 11 million pounds were up sharply from the previous week.’
Source: Brownfield Ag News
