Market News

Milk futures, cash dairy lower

Milk futures on the Chicago Mercantile Exchange were continued trailing lower Thursday as did cash trade.

August Class III milk futures down four cents at $17.57.  September down 32 cents at $17.23.  October 16 cents lower at $17.46.  November down nine cents at $17.26.  December through March contracts a penny to seven cents lower.

Dry whey down $0.0050 at $0.3950.  

Blocks down $0.0250 at $1.88.  Three trades were made at $1.8750 to $1.90.

Barrels down $0.0150 at $1.6650.  Seven trades were made ranging from $1.6650 to $1.6725. 

Butter down $0.0225 at $2.29.  Two trades were made ranging at $2.29 and $2.31.

Nonfat dry milk down unchanged at $1.0275.  Three trades were made ranging from $1.02 to $1.0275.

The USDA says butter stocks are building while cheese inventories worked lower during July.

Cheese stocks totaled nearly 1.4 billion pounds, down one percent on the month and three percent on the year.  American and other types of cheese made up most stocks.

Butter inventories were up one percent from June and four percent from last year at nearly 330 million pounds.