Market News

Milk futures higher, cash dairy mixed

In Class III trade at the Chicago Mercantile Exchange, milk futures were up on an oversold bounce. September was up $.05 at $16.60, October was $.10 higher at $16.62, November was up $.11 at $16.39, and December was $.10 higher at $16.07.

Over in the spot market, cash cheese was lower. Blocks were down $.02 at $1.71 with one load sold. The last uncovered offer was for one load, also at $1.71. Barrels were $.0175 lower at $1.625. There were a total of five trades, one at the closing price. The last unfilled bid was on one load, also at $1.625. The last uncovered offer was for one load at $1.64.

Butter was up $.0525 at $2.11. There was one load sold at $2.11, along with three at $2.10. The last unfilled bid was on one load at $2.08.

Nonfat dry milk was steady at $.855. There were three loads sold at that price. The last unfilled bid was for two loads at $.85. The last uncovered offer was for one load at $.86.

Cooperatives Working Together announced the acceptance of eight requests for export assistance. That acceptance covers 1.830 million pounds of Cheddar, Gouda, and Monterey Jack cheeses and 110,231 pounds of butter from DFA and Darigold. The products are headed to Asia, the Middle East, and Oceania from August through December of this year.