Market News

Milk futures, cash dairy mostly higher

Class III milk futures at the Chicago Mercantile Exchange were mixed with nearby contracts up and deferred months down in spread trade. February was up $.01 at $16.86, March was $.07 higher at $16.91, April was up $.07 at $17.00, and May was $.01 higher at $17.09.

Cash cheese barrels were up $.01 at $1.61. There were two loads sold, one at $1.61 and one at $1.60. The last unfilled bid was on one load at $1.60. The last uncovered offer was for one load at $1.62. Barrels held at $1.65. There were two loads sold at $1.65.

Butter was $.0275 higher at $2.13. There were two loads sold, one at $2.115 and one at $2.1225. The last unfilled bid was on two loads at $2.13 and the last uncovered offer was for one load at $2.20.

Nonfat dry milk was up $.0025 at $.9025. There were four loads sold, including one at $.9025 and two at $.90. The last unfilled bid was on two loads at $.90. The last uncovered offer was for one load at $.91.

Cooperatives Working Together announced the acceptance of 13 requests for export assistance. That covers 2.048 million pounds of Cheddar and Monterey Jack cheeses headed to Asia and Oceania with delivery scheduled for February through May.