Class III milk futures at the Chicago Mercantile Exchange were mixed with nearbys up and deferreds down in consolidation and spread activity. January was up $.01 at $16.75, February was $.15 higher at $16.71, March up $.07 at $17.15, and April was $.01 higher at $17.30.
Cash cheese blocks were up $.0175 at $1.7075. There was one load sold at $1.6925. The last unfilled bid was on one load at $1.7075. Barrels were $.0575 higher at $1.5175. There were four loads sold, including one at $1.5175. The last unfilled bid was on one load at $1.50.
Butter was up $.02 at $2.24. The last unfilled bid was on one load at $2.24.
Nonfat dry milk held at $.945. The last unfilled bid was on one load at $.9325.
The USDA’s December dairy index was 93.5, up 6.7% on the month and 8.6% on the year. The all milk price at $18.80 per hundredweight, $1.20 higher than November and $1.50 more than in December 2015.
Milk replacement heifers at the start of 2017 were 4.75 million head, down 1%.
