Since Minification removes unnecessary characters from code to reduce its size this will definitely improve load time.
When CSS/JS code is minified all comments are usually removed. Also characters like space, new line, and tab will be removed if found unnecessary.
You can refer the 7 steps to Speed up website loading – Website Optimization Tips and also how to speed up websites by enabling .htaccess Caching using mod_expires and mod_headers.
Minification can be considered as one way of obfuscation but may not be the kind of obfuscation you are looking for.
Read more about JSMin Minify tool.
The popular wordpress plug-ins WP-Minify and W3 Total Cache uses Minify.
Read more about JSMin Minify tool
from the command line to start the program.
Download the YUI Compressor.
Read more about YUI Compressor.
Read try and download ShrinkSafe.
WP Minify – WordPress Minify Plugin
WP Minify plugin integrates the Minify engine which is described above into your WordPress blog. Once enabled, this plugin will combine and compress JS and CSS files to improve page load time.WP Minify grabs JS/CSS files in your generated WordPress page and passes that list to the Minify engine. The Minify engine then returns a consolidated, minified, and compressed script or style for WP Minify to reference in the WordPress header.
DOWNLOAD WP Minify WordPress plugin