Market News

Butter backs-off to start the week

Things moved a little lower to start the week in the dairy markets on the Chicago Mercantile Exchange on Monday. Cheese barrels slipped 2.25 cents and butter lost 8.5 cents to push Class III futures 12 to 22 cents lower for the remainder of 2015.

Cooperatives Working Together (CWT) has accepted 15 requests for export assistance from Dairy Farmers of America, Michigan Milk Producers Association, Northwest Dairy Association (Darigold) and Tillamook County Creamery Association who have contracts to sell 2,092,187 pounds of Cheddar, Gouda, and Monterey Jack cheese and 418,878 pounds of whole milk powder to customers in Asia, the Middle East, North Africa and South America. The product has been contracted for delivery in the period from September 2015 through March 2016.

Year-to-date, CWT has assisted member cooperatives who have contracts to sell 46.680 million pounds of cheese, 19.376 million pounds of butter and 34.516 million pounds of whole milk powder to thirty-four countries on five continents.