In Class III trade at the Chicago Mercantile Exchange, milk futures were pressured by the bearish fundamental outlook. June was down $.07 at $12.30, July was $.05 lower at $12.80, August was down $.06 at $13.57, and September was $.07 lower at $14.29.
Over in the spot market, cash cheese barrels were up $.0175 at $1.38 with one load sold. The last bid unfilled was on one load, also at $1.38. Blocks were steady at $1.315. The last bid unfilled was for two loads at $1.32.
Butter was $.0075 higher at $2.06. The last bid unfilled was on one load at $2.06.
Nonfat dry milk was unchanged at $.80 with 13 loads sold, all at that price. The last bid unfilled was on one load at $.79. The last offer uncovered was for one load at $.805.
U.S. milk production during April was up 1.2% on the year at 18 billion pounds. Production per cow was 20 pounds higher than last year at 1,929 pounds and the number of milk cows was also above a year ago at 9.33 million head. In the 23 top producing states, the April total as 16.843 billion pounds, up 1.2%, with production per cow at 1,948 pounds, 19 above a year ago, and a new all-time high for the month in the 23 states. The number of milk cows was 8.65 million head, up on the month and the year. The top production state was California at 3.484 billion pounds, down 3.3%, followed by Wisconsin at 2.507 billion pounds, up 4.6%, and New York at 1.218 billion, 5.3% higher. For the year to date, U.S. milk production is 71 billion pounds.
The number of dairy cattle slaughter in April was 227,000 head, down on the month and the year. The year to date kill of 1.021 million head is more than 10,000 behind last year’s pace.
Source: Brownfield Ag News
