Market News

Milk futures, cash dairy mostly higher

Milk futures on the Chicago Mercantile Exchange found strength Thursday from cash markets ahead of USDA reports.

July Class III milk down eight cents at $16.57. August up 29 cents at $16.39. September 22 cents higher at $16.82. October up 14 cents at $17.54. November through January contracts two to 12 cents higher.

Dry whey up $0.0050 at $0.5375.

Blocks up $0.02 at $1.5425.

Barrels unchanged at $1.3725. Six sales were made from $1.3725 to $1.38.

Butter down $0.0325 at $1.6950. Nine trades were made from $1.6950 to $1.7275.

Nonfat dry milk up $0.0075 at $1.2450. Three sales were made from $1.24 to $1.2450.

The USDA says cheese stocks declined slightly in the last month while butter continues to build.

Cheese stocks during June totaled more than 1.4 billion pounds, up one percent on the year but down two percent on the month.

Butter inventories were up one percent from the previous month and 14 percent higher than last year at more than 414 million pounds.