Market News

Milk futures lower, cash dairy mixed

Class III milk futures at the Chicago Mercantile Exchange were pressured by follow through selling and demand uncertainties. September was down $.06 at $16.28, October was $.20 lower at $16.16, November was down $.18 at $15.95, December was $.16 lower at $15.83.

Cash cheese blocks were unchanged at $1.64. Seven loads were sold, five at $1.64 and two at $1.65. The last unfilled bid was on one load at $1.63. Barrels were $.03 lower at $1.55. 14 loads were sold, including nine at $1.6075 and one at $1.55. The last uncovered offer was for one load at $1.57.

Butter was $.055 higher at $2.495. Six loads were sold, including two at $2.495. The last unfilled bid was on one load at $2.4725. The last uncovered offer was for one load at $2.495.

Nonfat dry milk was down $.01 at $.8425. The last unfilled bid was on one load at $.84. The last uncovered offer was for one load at $.8425.

The USDA reports cash butter for the week ending September 2nd averaged $2.65 per pound, up $.019 on the week. 40 pound blocks of cheddar were pegged at $1.73, $.021 lower. 500 pound barrels averaged $1.68, $.039 higher. Dry whey came out at $.428, down $.008. Nonfat dry milk averaged $.871, $.012 lower.