Market News

Milk futures, cash dairy mostly higher

Class III milk futures at the Chicago Mercantile Exchange were mixed, with the most active months up on technical buying and spread trade. August was $.02 higher at $16.67, September was up $.01 at $16.99, October was $.05 higher at $17.15, and November was $.02 at $17.07.

Cash cheese blocks were $.02 higher at $1.695. One load was sold at $1.69. The last unfilled bid was on one load at $1.695. Barrels were up $.01 at $1.485. Seven loads were sold, including five at $1.475. The last unfilled bid was on one load at $1.485. The last uncovered offer was for two loads at $1.49.

Butter was $.015 higher at $2.615. Two loads were sold at $2.615. The last unfilled bid was on one load at $2.605. The last uncovered offer was for one load at $2.6175.

Nonfat dry milk was down $.01 at $.8525. Seven loads were sold, including four at $.8525. The last unfilled bid was on one load at $.85.

Cooperatives Working Together announced the acceptance of five requests for export assistance from member co-ops, covering 1.373 million pounds of Cheddar cheese. The products are headed to Asia with delivery slated for July through October.

The next Global Dairy Trade event is slated for Tuesday, July 18th.