Market News

Cash cheese, milk futures lower

Class III milk futures at the Chicago Mercantile Exchange were pressured by profit taking, giving back part of the recent gains. August was down $.05 at $16.45, September was $.35 lower at $16.84, October was down $.41 at $16.98, and November was $.34 lower at $16.93.

Cash cheese blocks were $.03 lower at $1.725. Five loads were sold, including two at $1.70. The last unfilled bid was on one load at $1.725. Barrels were down $.0175 at $1.64. Five loads were sold, including three at $1.64. The last unfilled bid was on one load at $1.59. The last uncovered offer was for one load at $1.645.

Butter was unchanged at $2.67. The last unfilled bid was on five loads at $2.60. The last uncovered offer was for five loads at $2.67.

Nonfat dry milk was $.0025 lower at $.8475. Three loads were sold, one at $.8475 and two at $.85. The last unfilled bid was on one load at $.835. The last uncovered offer was for one load at $.8575.

The Global Dairy Trade index was down 0.4% at $3,339 per ton. Lactose was 4.9% lower and butter was down 1.3%, while cheddar was up 1.4% and rennet casein was 2.9% higher. The next even is scheduled for September 5th.