Market News

Milk futures, cash dairy higher

Class III milk futures at the Chicago Mercantile Exchange closed higher Monday supported by optimism surrounding the new NAFTA deal.

October closed a dime higher at $15.90.  November a nickel higher at $16.36.  December six cents higher at $16.19.  January up eight cents at $16.07.  February through next September contracts closed five to eight cents higher.

On the cash market, the spread between Blocks and Barrels reached an all time high Monday.

Barrels were up $0.0375 at $1.42.  Sixteen trades were made ranging from $1.41 to $1.43.

Blocks were $0.0575 higher at $1.7475.  One trade was made at that price.

Butter was down $0.0225 at $2.2975.  Three trades were made ranging from $2.3050 to $2.32.

Nonfat dry milk closed $0.0050 higher at $0.88.

Dry whey was unchanged at $0.55.  On trade was made at that price.

Cooperatives Working Together has accepted three requests for export assistance from member co-ops that will move nearly 613,000 pounds of Cheddar cheese.  The sales are contracted for delivery in Asia, North Africa and Central America for delivery between October and January.