Milk futures down, cash dairy steady to lower
Chicago Mercantile Exchange Class III milk futures were lower on follow through selling. February was down $.02 at $16.95 and March was $.11 lower at $16.66, while April was $.13 lower at $16.72 and May was down $.15 at $16.88.
In the cash market, cheese barrels were steady at $1.585 and Blocks were down a penny at $1.80. Grade A nonfat dry milk was $.0175 lower at $1.1775, AA butter was down $.02 at $1.755, and extra grade dry whey held at $.37.
HighGround Dairy says milk production in Germany in 2019 was down from 2018, the first year to year decline in more than a decade, was production in both France and the Netherlands was lower for the second year in a row.
The USDA says January’s dairy cow slaughter was 298,500 head, up 33,100 from December and 1,000 higher than the January 2019 total.