In Class III trade at the Chicago Mercantile Exchange, milk futures were down on profit taking after a couple of days of gains. October was down $.03 at $14.70, November was $.14 lower at $15.47, December was down $.21 at $15.28, and January was $.22 lower at $15.38.
Cash cheese blocks were steady at $1.68. There were a total of four loads sold, including one at $1.68. The last uncovered offer was for one load at $1.69. Barrels were $.02 lower at $1.59 with one load sold. The last uncovered offer was for one load at $1.60.
Butter was down $.0125 at $1.75 and a half with one load sold.
Nonfat dry milk was up $.01 at $.8825. There was one load sold at $.88. The last unfilled bid was on one load at $.8825. The last uncovered offer was for one load at $.89.
The USDA reports butter for the week ending October 15th averaged $1.85 per pound, down $.094 on the week. 40 pound blocks of cheddar came out at $1.58, $.044 lower, and 500 pound barrels averaged $1.54, up $.002. Dry whey was pegged at $.325, $.016 higher. Nonfat dry milk averaged $.922, down $.012.
For November, the USDA has the base Class I milk price at $14.78 per hundredweight, down $1.82 from October. The skim price is set at $7.79, $0.99 lower.
California’s Department of Food and Agriculture reports the state’s average nonfat dry milk price for the week ending October 14th was $.899 per pound, down $.024 on the week, with sales of just over 8 million pounds.
Source: Brownfield Ag News
