Milk futures, cash cheese higher
Class III milk futures at the Chicago Mercantile Exchange were supported by an oversold bounce and expectations for a slowdown in production because of weather. July was up $.10 at $15.65, August was $.33 higher at $16.57, September was up $.45 at $16.99, and October was $.41 higher at $17.21.
Cash cheese blocks were $.06 higher at $1.615. Five loads were sold, ranging from $1.56 to $1.59. The last unfilled bid was on one load at $1.615. Barrels were up $.0325 at $1.4175. 19 loads were sold, including four at $1.385 and four at $1.39. The last unfilled bid was on one load at $1.4075. The last uncovered offer was for one load at $1.4175.
Butter was down $.0075 at $2.6075. Three loads were sold, including one at $2.6075. The last unfilled bid was on one load at $2.60. The last uncovered offer was for two loads at $2.61.
Nonfat dry milk was unchanged at $.8725. A total of 31 loads were sold, including 11 at $.8725 and 15 at $.875. The last unfilled bid was on one load at $.8725. The last uncovered offer was for one load at $.8775.
Cooperatives Working Together announced the acceptance of 10 requests for export assistance covering 1.490 million pounds of Cheddar and Monterey Jack cheeses. The products are headed to Asia, Central America, and the Middle East with delivery set for July through October 2017.
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