Market News

Milk futures lower, cash dairy mostly steady

Class III milk futures at the Chicago Mercantile Exchange were pressured by follow through selling and bearish supply expectations. September was down $.02 at $16.26, October was $.03 lower at $15.91, November was down $.07 at $15.72, and December was $.02 lower at $15.64.

Cash cheese blocks were unchanged at $1.615. The last unfilled bid was on two loads at $1.58. The last uncovered offer was for one load at $1.615. Barrels were steady at $1.50. The last unfilled bid was on two loads at $1.47. The last uncovered offer was for one load at $1.52.

Butter held at $2.4175. Four loads were sold, including one $2.4175. The last unfilled bid was on one load at $2.40. The last uncovered offer was for one load at $2.425.

Nonfat dry milk was down $.005 at $.8275. Two loads were sold, including one at $.8275. The last unfilled bid was on one load, also at $.8275. The last uncovered offer was for one load at $.845.