Class III milk futures at the Chicago Mercantile Exchange were narrowly mixed in pretty quiet activity. February was up $.03 at $16.74, March held at $17.15, April was $.04 higher at $17.34, and May was $.03 lower at $17.34.
Cash cheese blocks were up $.0425 at $1.75. The last unfilled bid was on one load at $1.75. Barrels were $.06 higher at $1.5775. There were a total of seven trades, one at $1.5775 and four at $1.5125.
Butter held at $2.24. The last uncovered offer was for three loads at $2.24.
Nonfat dry milk was up $.0025 at $.9475. The last unfilled bid was on one load at $.9475. The last uncovered offer was for one load at $.9675.
HighGround Dairy reports the Netherlands produced a record amount of milk in 2016 and part of the herd will have to be culled to meet phosphate limits set by the European Union.
For the week ending January 28th, the USDA says butter averaged $2.26 per pound, down $.015. 40 pound blocks of cheddar came out at $1.72, up $.011. 500 pound barrels of cheddar averaged $1.65, $.002 lower. Dry whey was pegged at $.459, $.014 higher. Nonfat dry milk averaged $1.02, down $.007.
Source: Brownfield Ag News
