Market News

Quiet day in the dairy markets

A mixed day in the dairy markets on the Chicago Mercantile Exchange on Tuesday. Cash cheese barrels held steady, blocks slipped 1.5 cents, butter declined 2 cents and nonfat dry milk held steady on limited action. Class III futures were mixed with the August contract climbing back over the $16 mark to close at $16.04.

Cooperatives Working Together (CWT) has accepted 9 requests for export assistance from Michigan Milk Producers Association and Northwest Dairy Association (Darigold) who have contracts to sell 456,357 pounds of Cheddar and Monterey Jack cheese, and 2.756 million pounds of whole milk powder to customers in Asia, Central and South America. The product has been contracted for delivery in the period from July through December 2015.

Year-to-date, CWT has assisted member cooperatives who have contracts to sell 42.348 million pounds of cheese, 30.395 million pounds of butter and 32.836 million pounds of whole milk powder to thirty one countries on five continents.