Market News

Milk futures higher, cash cheese lower

In Class III trade at the Chicago Mercantile Exchange, milk futures were higher, bouncing back from a couple of mixed, mostly lower, sessions, supported by good demand expectations. December was up $.02 at $17.34, January was $.24 higher at $17.19, February was up $.19 at $17.33, and March was $.14 higher at $17.49.

Cash cheese was lower. Blocks were down $.01 at $1.79. There were a total of three loads sold, two at $1.775 and one at $1.80. The last unfilled bid was on one load at $1.79. Barrels were $.015 lower at $1.685. There were six loads sold, including three at $1.70 and one at $1.685. The last uncovered offer was for one load at $1.69.

Butter was $.0575 higher at $2.2475. There were six loads sold, including two at $2.20, two at $2.25, and one at $2.2475. The last uncovered offer was for one load at $2.27.

Nonfat dry milk was up $.0025 at $1.0225. There were two loads sold, one a piece at $1.0075 and one at $1.02. The last unfilled bid was on one load at $1.0225. The last uncovered offer was for one load at $1.025.