Market News

Milk futures higher, cash dairy mostly steady

In Class III trade at the Chicago Mercantile Exchange, milk futures were higher, responding to last week’s trend in the cash markets. August was up $.04 at $17.14, September was $.08 higher at $17.24, October was up $.06 at $16.98, and November was $.06 higher at $16.53.

Over in the spot market, cash cheese was unchanged. Blocks were steady at $1.815 and barrels held at $1.88.

Butter was down $.0025 at $2.2675. The last uncovered offer was for one load at that price.

Nonfat dry milk was unchanged at $.8325. The last unfilled bid was on one load at $.79. The last uncovered offer was for one load at $.84.

Cooperatives Working Together Monday announced the acceptance of a total of 11 requests for export assistance. The requests cover more than 780,000 pounds of Cheddar Cheese, 3.4 million pounds of butter, and 660,000 pounds of whole milk powder. The products are headed to Asia, Central America, South America, the Middle East, North Africa, and Oceania. Delivery is scheduled for August through November of this year.