Market News

Milk futures, cash cheese lower

In Class III trade at the Chicago Mercantile Exchange, milk futures were lower, continuing to see pressure from the bearish fundamental outlook. April was down $.01 at $13.63, May was $.08 lower at $13.20, June was down $.18 at $13.26, and July was $.19 lower at $13.65.

Over in the spot market, cash cheese was lower. Barrels were down $.045 at $1.38. There were three loads sold at $1.425. The last offer uncovered was for one load at $1.38. Blocks were four lower at $1.38. There were a total of twelve loads sold, including two at the closing price. The last bid unfilled was on two loads at $1.37.

Butter was up $.01 at $2.04. The last bid unfilled was on one load at that price.

Nonfat dry milk was $.015 higher at $.775. There was one load sold at that price and one sold at $.77.