Market News

Milk futures mostly lower

In Class III trade at the Chicago Mercantile Exchange, milk futures were mostly lower on spread trade, demand uncertainties, and the large available supply. April was down $.01 at $13.64, May was $.02 lower at $13.28, June was down $.04 at $13.44, and July was $.01 lower at $13.84.

Over in the spot market, cash cheese barrels were unchanged at $1.425. The last offer uncovered was for one load at that price. Blocks were down $.0025 at $1.42 with two loads sold. The last offer uncovered was for one load at $1.42.

Butter was steady at $2.03. The last bid unfilled was on one load at that price. The last offer uncovered was for two loads at $2.05.

Nonfat dry milk was up $.01 at $.76. The last bid unfilled was on one load at that price. The last offer uncovered was for two loads at $.77.

Cooperatives Working Together announced the acceptance of 12 bids for export assistance. That assistance will cover 2.465 million pounds of Cheddar and Gouda cheese and 5.307 million pounds of whole milk powders. The products are from DFA, Michigan Milk Producers Association, Darigold, and the Tillamook County Creamery Association. The destinations are in Asia, the Middle East, North Africa, and South America. Delivery is scheduled for April through October of this year.