Market News

Milk futures lower, cash cheese steady

Class III milk futures at the Chicago Mercantile Exchange were down on the recent slide in the cheese market, resuming the recent trend that has pushed the milk market to four month lows. March was down $.05 at $15.89, April was $.09 lower at $15.83, May was down $.06 at $15.98, and June was $.17 lower at $16.16.

Cash cheese blocks were unchanged at $1.48. Barrels held at $1.4375.

Butter was down $.015 at $2.1475. There were four loads sold, including one at $2.1475. The last unfilled bid was on one load at $2.14. The last uncovered offer was for one load at $2.1625.

Nonfat dry milk was steady at $.805. The last unfilled bid was on one load at $.8025. The last uncovered offer was for two loads at $.8125.