Market News

Milk futures mostly lower, cash dairy mixed

In Class III trade at the Chicago Mercantile Exchange, milk futures were steady to lower ahead of Tuesday’s USDA supply and demand report, out at Noon Eastern/11 AM Central. July was down $.01 at $15.19, August was $.19 lower at $15.77, September was down $.17 at $15.89, and October was $.12 lower at $16.03.

Over in the spot market, cash cheese was unchanged. Blocks held at $1.63 per pound and barrels were steady at $1.72.

Butter was down $.0075 at $2.275 with one trade reported. The last bid unfilled was on one load at $2.25.

Nonfat dry milk was up $.0075 at $.8975. There were two loads sold at $.8925. The last bid unfilled was on two loads at $.8975. The last offer uncovered was for three loads at $.91.

Cooperatives Working Together announced the acceptance of 12 requests for export assistance. The assistance covers 1.68 million pounds of butter, more than 970,000 pounds of Cheddar, Gouda, and Monterey Jack cheese, and more than 440,000 pounds of whole milk powder. The products are headed to Asia, Oceania, and South American from July through November. The assisted firms were Dairy Farms of America and Darigold.

The National Milk Producers Federation Monday announced support for a bill introduced in the U.S. House of Representatives clarifying exemptions for dairy farms from safe disposal of solid waste rules under the 1976 Resource Conservation and Recovery Act. The NMPF says the Farm Regulatory Certainty Act, introduced by Washington Republican Dan Newhouse, would clarify the 1976 law is meant to govern landfills, not dairy and livestock producers. The Regulatory Certainty Act is also intended to protect producers from lawsuits by private individuals if those producers are meeting or attempting to meet federal orders. Newhouse’s act is in response to lawsuits against dairy operations in Washington State.