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Sunday...Temperatures will range from a high of 12 to a low of 8 degrees with mostly cloudy skies. Winds will range between 7 and 9 miles per hour from the southsouthwest. No precipitation is expected.
Overnight ...Temperatures will range from 12 to 8 degrees with mostly cloudy skies. Winds will remain steady around 8 miles per hour from the southwest. No precipitation is expected.
Sunday...Temperatures will range from a high of 28 to a low of 10 degrees with partly cloudy skies. Winds will range between 9 and 15 miles per hour from the west. Less than 1 inch of snow is possible.

Butter the busy and bright spot in dairy commodity spot markets

Sept. 19, 2013 | 0 comments

Twenty-four carloads of AA butter were sold on the first three trading days of this week in the spot market on the Chicago Mercantile Exchange. Four of those sales were made on Wednesday.

The spot market price for AA butter has settled at $1.53 per pound. This includes an eight-cent per pound jump on Thursday, Sept. 12.

No spot market sales of Cheddar cheese were made through Wednesday of this week in the spot market. The prices did drop, however, on uncovered offers to sell earlier in the week.

This left the prices at $1.7975 per pound for Cheddar blocks and $1.7575 for Cheddar barrels - down 4.25 and 5.5 cents per pound, respectively for the week.

The spot market was active on Wednesday, however, for Grade A non-fat dry milk with three carload sales, an covered offer to sell one carload, and an unfilled bid to buy one carload.

The prices remained at $1.83 per pound for Grade A and $1.78 for Grade Extra.

Although there was no price movement on Cheddar cheese on Wednesday, the Class III milk futures posted gains for all months through November of 2014. The highest increases were 19 cents per hundred for October and 20 cents for November of 2013.

Near the end of Wednesday's trading session, the prices were $18.17 per hundred for September, $17.85 for October, $17.65 for November, and in the upper half of the $16s per hundred for all months from December 2013 through July of 2014 before moving into the low $17s for the latter months of the year.

Trading values for dry whey were also on the plus side on Wednesday for all the months in which contracts were completed.

Prices stood at 57.5-58 cents per pound for the remaining months of 2013 and have risen to at least 50 cents per pound through October of 2014.

The producer price differential on milk pooled in Federal Milk Marketing Order 30 for August is 34 cents per hundred in the Chicago base zone and 14 cents at the most distant milk receiving plants in central Wisconsin due to the "location adjustment" (transportation cost).

Of the more than 2.911 billion pounds of milk pooled during the month, 87.1 percent was used in Class III for cheese production, 10.6 in Class I for fluid milk bottling, and a total of 2.3 percent in Class II and IV.

The pooled milk had averages of 3.7 percent butterfat, 3.01 percent protein, and 5.76 percent other solids.

The national milk production report for August was due to be released on Thursday afternoon of this week.

Earlier this week, Cooperatives Working Together announced the acceptance of a total of 25 bids for financial assistance on the export of 2.282 million pounds of Cheddar and Gouda cheese and 3.123 million pounds of butter.

The exports were going to countries in Europe, Central America, Asia, North Africa, and the Middle East.

The requests came from Dairy Farmers of America, Foremost Farms USA, Maryland and Virginia Milk Producers Cooperative, Darigold Cooperative, and Upstate Niagara O-AT-KA.

Deliveries are scheduled from September-March in 2014.

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