Market News

Milk futures, cash cheese higher

Class III milk futures at the Chicago Mercantile Exchange saw an oversold bounce. May was up $.16 at $15.48, June was $.28 higher at $15.69, July was up $.25 at $16.21, and August was $.24 higher $16.21.

Cash cheese blocks were up $.01 at $1.49. The last unfilled bid was on one load at $1.49. Barrels were $.02 higher at $1.42. Four loads were sold, including one at $1.42. The last unfilled bid was on two loads at $1.40. The last uncovered offer was for three loads at $1.42.

Butter was unchanged at $2.12. The last unfilled bid was on one load at $2.12. The last uncovered offer was for one load at $2.115.

Nonfat dry milk was $.0025 lower at $.85. The last unfilled bid was on one load at $.8475. The last uncovered offer was for one load at $.85.

The USDA says the Class II milk price for April was $14.81 per hundredweight, down $1.40 from March, Class III was $15.22, $.59 lower, and Class IV was $14.01, down $.31.