Market News

Milk futures, cash dairy mostly higher

Class III milk futures at the Chicago Mercantile Exchange were mostly firm on spread trade and oversold signals, with many months bouncing back slightly from some big recent losses. It may just be “Turnaround Tuesday” activity, however. March was up $.04 at $15.72, April was unchanged at $15.51, May was $.11 higher at $15.75, and July was up $.08 at $16.15.

Cash cheese blocks were up $.0025 at $1.37. There were four load sold, two at $1.37. The last uncovered offer was for one load at $1.38. Barrels were unchanged at $1.40. The last uncovered offer was for one load at $1.41.

Butter was $.0175 higher at $2.18. There was one load sold at $2.18 and one at $2.17.

Nonfat dry milk was down $.0025 at $.805. The last unfilled bid was on one load at $.79. The last uncovered offer was on two loads at $.805.