Market News

Milk futures down, cash dairy mostly lower

In Class III trade at the Chicago Mercantile Exchange, milk futures were down on profit taking after the recent gains. July was down $.03 at $15.27, August was $.10 lower at $16.86, September was down $.15 at $16.74, and October was $.23 lower at $16.57.

Over in the spot market, cash cheese blocks were down $.0025 at $1.705. The last uncovered offer was for one load at that price. Barrels were steady at $1.775.

Butter was $.0125 lower at $2.2475. There were a total of five trades reported, from $2.2475 to $2.2675. The last unfilled bid was on two loads at $2.24. The last uncovered offer was for one load at $2.2525.

Nonfat dry milk was $.0075 lower at $.8375 with two loads sold at that price. The last unfilled bid was on six loads at $.80. The last uncovered offer was for one load at $.84.

Cooperatives Working Together announced the acceptance of three requests for export assistance. The requests from DFA and Darigold are for 90,390 pounds of Cheddar and Gouda cheese and 881,849 pounds of whole milk powder. The products are headed to Asia with delivery slated for August through October.