Market News
Good day in the cash dairy markets
Some nice gains in the cash dairy markets on Wednesday. Cheddar barrels gained 5 cents and blocks increased 6 cents on a couple of unfilled bids. Butter was a half-cent higher and nonfat dry milk increased 1.25 cents. Class III futures responded with the August contract gaining 26 cents, September increased 24 cents.
Dairy Market News says signs of change are afoot in the Midwest cheese arena. After months of strong milk supplies, contracted milk volumes and components are declining. Surplus loads are getting harder to come-by and pricier. Some cheese makers are hesitant to sell additional cheese through the latter part of 2015.
National Dairy Products Sales Report for the week ending July 25th; cheddar cheese blocks averaged $1.67 down 0.3 cents from the previous week. Barrels were 0.9 cents higher at $1.66, butter decreased 3.7 cents to $1.89, nonfat dry milk decreased 4.5 cents to average 80.2 cents per pound and dry whey lost 1.6 cents to 37.6 cents.
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