Market News

Milk futures, cash dairy mostly lower

In Class III trade at the Chicago Mercantile Exchange, milk futures were mostly lower on demand uncertainties and overbought signals. August was unchanged at $16.96, September was $.07 lower at $17.75, October was down $.12 at $17.43, and November was $.06 lower at $17.04.

In the spot market, cash cheese blocks were down $.015 to $1.845. There were two trades, one at the closing price and one at $1.8475. The last uncovered offer was for one load at $1.845. Barrels were unchanged at $1.865.

Butter was $.0225 lower at $2.1075. The last unfilled bid was on one load at $2.10. The last uncovered offer was for one load at $2.1075.

Nonfat dry milk was down $.02 at $.8475. There was one load sold at that price, along with one at $.85 and one at $.855. The last unfilled bid was on two loads at $.84. The last uncovered offer was for three loads at $.85.

Cooperatives Working Together announced the acceptance of two requests for export assistance. The requests cover 152,119 pounds of Cheddar and Monterey Jack cheese. The cheese is headed to Asia with delivery set for August through October of this year.