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Milk futures, cash cheese lower

Class III milk futures at the Chicago Mercantile Exchange were down on follow through selling and position squaring ahead of the USDA’s monthly milk production report. August was $.25 lower at $16.30, September was down $.19 at $16.63, October was $.17 lower at $16.81, and November was down $.09 at $16.90.

Cash cheese blocks were $.005 lower at $1.705. One load was sold at $1.705. The last uncovered offer was for one load, also at $1.705. Barrels were down $.075 at $1.41. Six loads were sold, five at $1.41 and one at $1.46. The last unfilled bid was on one load at $1.40. The last uncovered offer was for one load at $1.4475.

Butter was $.0225 lower at $2.61. Four loads were sold, three at $2.60 and one at $2.61. The last unfilled bid was on one load at $2.595. The last uncovered offer was for one load at $2.6175.

Nonfat dry milk was unchanged at $.86. Four loads were sold, two at $.87 and two at $.86. The last unfilled bid was on three loads at $.86. The last uncovered offer was for one load at $.8675.

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