Market News

Milk futures, GDT higher

In Class III trade at the Chicago Mercantile Exchange, milk futures were supported by the higher move in the Global Dairy Trade index. November was up $.02 at $16.70, December was $.11 higher at $16.44, January was up $.14 at $15.99, and February was $.09 higher at $16.00.

Cash cheese blocks were unchanged at $1.885. Barrels were down a quarter cent at $1.7025. There were two loads sold at $1.7025 along with three at $1.705. The last uncovered offer was for one load at $1.705.

Butter was $.01 lower at $1.98. There were a total of ten loads sold, six at $1.98. The last unfilled bid was on one load at $1.975. The last uncovered offer was for one load at $1.99.

Nonfat dry milk was up $.015 at $.8925. There were six loads sold, one at $.8925 and five at $.89. The last unfilled bid was on two loads at $.8925.

The Global Dairy Trade Auction index was up 4.5% at an average of $3,519 per ton. All sectors were higher, including a 13.3% jump in butter milk powder and an 11% rise in cheddar. The next auction is scheduled for Tuesday, December 6th.