Market News

Milk futures, cash dairy mixed

Class III milk futures at the Chicago Mercantile Exchange were mixed ahead of Wednesday’s USDA supply and demand report. May was down $.03 at $15.52, June was up $.01 at $15.87, July was $.03 lower at $16.30, and August was down $.05 at $16.69.

Cash cheese blocks were unchanged at $1.59. The last uncovered offer was for one load at $1.59. Barrels were $.01 higher at $1.46. 10 loads were sold, including three at $1.46. The last unfilled bid was on two load at $1.455. The last uncovered offer was for one load at $1.4675.

Butter was $.0225 lower at $2.105. Nine loads were sold, including one at $2.105. The last unfilled bid was on one load, also at $2.105. The last uncovered offer was for one load at $2.1075.

Nonfat dry milk was up $.0075 at $.8575. Five loads were sold, including two at $.8575. The last unfilled bid was on two loads at $.8575. The last uncovered offer was for 10 loads at $.895.

Cooperatives Working Together accepted seven requests for export assistance from member coops covering 1 million pounds of Cheddar and Monterey Jack cheeses and 440,525 pounds of butter. The products are headed to Asia and the Middle East with delivery slated for May through August.