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Butter hits $2.99

Cash butter edged ever-closer to the $3 mark on the Chicago Mercantile Exchange on Tuesday closing at $2.99 per pound.  Cash cheese barrels nudged a half-cent higher while blocks held steady.  Class III futures increased, October gained 59 cents to $23.57, November went over the $21 mark up 47 cents to $21.21 and December gained 19 cents to close at $19.93 per hundredweight.

Cooperatives Working Together (CWT) has accepted 8 requests for export assistance from Dairy Farmers of America, Northwest Dairy Association (Darigold) and Tillamook County Creamery Association to sell 1.210 million pounds of Cheddar and Gouda cheese and 11.255 million pounds of whole milk powder to customers in Asia, the Middle East, North Africa, and South America. The product will be delivered September 2014 through March 2015.

Year-to-date, CWT has assisted member cooperatives in selling 85.511 million pounds of cheese, 48.188 million pounds of butter and 31.748 million pounds of whole milk powder to 43 countries on six continents.