Market News

Milk futures, cash cheese lower

Class III milk futures at the Chicago Mercantile Exchange were pressured by follow through selling and demand uncertainties. March was down $.17 at $16.10, April was $.31 lower at $16.01, May was down $.43 at $16.05, and June was $.39 lower at $16.35.

Cash cheese blocks were $.03 lower at $1.545. There was one load sold at $1.545. The last uncovered offer was for one load at $1.55. Barrels were down $.03at $1.4875. There was one load sold at $1.4875. The last unfilled bid was on two loads at $1.45. The last uncovered offer was for one load at $1.49.

Butter was up $.03 at $2.15. There was one load sold at $2.15. The last unfilled bid was on one load at $2.16.

Nonfat dry milk held at $.8225. The last unfilled bid was on one load at $.815. The last uncovered offer was for two loads at $.83.

Cooperatives Working Together announced the acceptance of 19 requests for export assistance from member coops. The assistance covers 2.588 million tons of Cheddar and Monterey Jack cheeses, and 52,360 tons of butter. The products are headed to Asia, Central America, the Middle East, and Oceania with delivery slated for February through May.