Market News

Milk futures lower, cash cheese steady

In Class III trade at the Chicago Mercantile Exchange, milk futures were down on profit taking and signs some of the recent gains were overdone. June was down $.03 at $13.28, July was $.37 lower at $14.92, August was down $.13 at $15.95, and September was $.09 lower at $16.24.

Over in the spot market, cash cheese was unchanged. Blocks held at $1.52 per pound and barrels were steady at $1.5375.

Butter was $.055 higher at $2.2725. The last bid unfilled was on one load at that price.

Nonfat dry milk was unchanged at $.85 with two loads sold. The last bid unfilled was on one load at $.83. The last offer uncovered was for ten loads at $.87.