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Milk Futures Mostly Lower, Cash Dairy Mostly Higher

Chicago Mercantile Exchange Class III milk futures were mixed, with the most active months modestly lower. March was down $.01 at $14.91 and April was $.03 lower at $14.95, while May was down $.06 at $15.19 and June was $.04 lower at $15.51.

Cash cheese blocks were up a penny at $1.53, with five trades, including one at the closing price. The last unfilled bid was on one load at $1.51 and the last uncovered offer was for one load at $1.55. Barrels were up $.0225 at $1.425. 11 trades were reported, including one at the closing price. The last uncovered offer was for one load at $1.425.

Butter was unchanged at $2.28. The last uncovered offer was for one load at $2.28.

Nonfat dry milk was a quarter cent higher at $.9650. Four trades were reported, including one at the closing price. The last unfilled bid was on four loads at $.945 and the last uncovered offer was for one load at $.965. Dry whey was down $.0075 at $.3325. Two trades were reported, one at that price. The last unfilled bid was on two loads at $.3325 and the last uncovered offer was for one load at $.3375.

Dairy prices in the European Union were mostly lower. Whole milk and cheese prices were mixed, skim milk and butter prices were lower, and whey powder was mostly lower.

HighGround Dairy says U.S. commercial cheese disappearance during December was up on the year, while dry whey was down for the sixth month out of the last seven, unable to follow through on November’s strength.

--Brownfield AgNews