Market News

Milk futures, cash dairy mixed

In Class III trade at the Chicago Mercantile Exchange, milk futures were mixed, with 2016 contracts up on an oversold bounce. 2017 months were modestly lower on expectations for even bigger annual production because of bigger milk cow numbers. September was up $.04 at $16.47, October was $.07 higher at $16.50, November was up $.10 at $16.45, and December was $.06 higher at $16.11.

Cash cheese blocks were up $.015 at $1.665. The last unfilled bid was on one load at that price. Barrels were down $.02 at $1.55. There were a total of ten loads sold, including four at $1.5675 and three at $1.55. The last unfilled bid was on one load at $1.54. The last uncovered offer was for one load at $1.56.

Butter held at $2.0375. The last unfilled bid was on one load at $2.00. The last uncovered offer was for one load at $2.04.

Nonfat dry milk was unchanged at $.905. The last unfilled bid was on one load at $.895.