Market News

Milk futures mostly higher, cash cheese firm

In Class III trade at the Chicago Mercantile Exchange, milk futures were mixed, mostly modestly higher. June was up $.01 at $12.49, July was $.02 higher at $12.95, August was up $.03 at $13.67, and September was $.02 higher at $14.47.

Over in the spot market, cash cheese was firm. Barrels were up $.005 at $1.36. The last bid unfilled was on one load at that price. Blocks were $.005 at $1.32 with one load sold.

Butter was up $.02 at $2.09 with three loads sold. The last bid unfilled was on one load at $2.085.

Nonfat dry milk was down $.015 at $.80. There were a total of eleven loads sold, including seven at the closing price. The last bid unfilled was on one load at $.78. The last offer uncovered was for one load at $.805.

Cooperatives Working Together announced the acceptance of a dozen bids for export assistance. That assistance will cover 2.776 million pounds of Cheddar, Gouda, and Monterey Jack cheese, 771,618 pounds of butter, and 88,185 pounds of whole milk powder. The products are headed to Asia, the Middle East, Oceania, and South America between May through November.