Market News

Milk futures, cash cheese lower

Class III milk futures at the Chicago Mercantile Exchange were down on profit taking, demand uncertainties, and the mostly lower spot business. September was $.04 lower at $16.28, October was down $.16 at $15.94, November was $.16 lower at $15.79, and December was down $.15 at $15.66.

Cash cheese blocks were $.025 lower at $1.615. Five loads were sold, including one at $1.615. The last unfilled bid was on one load at $1.58. The last uncovered offer was for one load at $1.63. Barrels were down $.07 at $1.50. A total of 21 loads were sold, including one at $1.50. The last uncovered offer was for one load at $1.58.

Butter was $.01 lower at $2.4175. Two loads were sold, including one $2.4175. The last uncovered offer was for four loads at $2.4225.

Nonfat dry milk was up $.0125 at $.8325. Four loads were sold, including one at $.8325. The last unfilled bid was on one load at $.8275. The last uncovered offer was for one load at $.8325.

The USDA says cash butter for the week ending September 9th averaged $2.59 per pound, down $.065 on the week. 40 pound blocks of cheddar came out at $1.67, $.065 lower. 500 pound barrels averaged $1.64, down $.035. Dry whey was pegged at $.424, $.004 lower. Nonfat dry milk averaged $.874, $.004 higher.

According to HighGround Dairy, milk production in the United Kingdom for the week ending September 2nd was up 2.6% on the year, while production in France for the week ending September 3rd was down 0.1%.