Market News

Milk futures, cash dairy mixed

Class III futures at the Chicago Mercantile Exchange were narrowly mixed, mostly weak, reacting to last week’s milk production report and this week’s cold storage numbers. June was down $.03 at $16.29, July was $.02 lower at $16.75, August was down $.01 at $17.14, and September was $.01 lower at $17.26.

Cash cheese blocks were $.02 lower at $1.65. Five loads were sold, including one at $1.65 and five at $1.66. The last uncovered offer was for one load at $1.65. Barrels were $.01 higher at $1.48. 10 loads were sold, including three at $1.48 and four at $1.465. The last uncovered offer was for two loads at $1.48.

Butter was down $.0125 at $2.3625. Two loads were sold, one at $2.3625 and one at $2.37. The last unfilled bid was on two loads at $2.35. The last uncovered offer was for one load at $2.3625.

Nonfat dry milk was up $.01 at $.925. Two loads were sold, one at $.925 and one at $.9275. The last unfilled bid was on one load at $.925. The last uncovered offer was for one load at $.93.

Cooperatives Working Together announced the acceptance of 14 requests for export assistance from member coops, covering 2.57 million pounds of cheese and 220,462 pounds of butter. The products are headed to Asia, the Middle East, North Africa, and Oceania, with delivery slated for May through August 2017.