Milk futures were down in the short term but higher in the long term, while cash dairy markets were stable to higher on the Chicago Mercantile Exchange on Wednesday.
October Class III milk was $0.01 lower at $16.84. November’s price went down $0.10 to $17.23. December’s price went down $0.10 to $17.49. January saw a $0.07 increase to $17.99. Contracts from February to August varied from nine cents lower in July to twelve cents higher in February. July was the only month with a decreased price after January.
Dry whey was trading at $0.3150, up $0.0050. There were 21 transactions, with prices ranging from $0.31 to $0.3150.
For the third day in a row, forty-pound cheese blocks stayed steady at $1.7025, with no sales reported.
Cheese barrels gained $0.0075 to $1.6175. There were no sales registered.
The price of butter remained constant at $3.48. There were no sales registered.
Nonfat dried milk increased $0.03 to $1.2150. There were eight transactions, with prices ranging from $1.20 to $1.2150.
