Market News

Milk futures mostly higher, cash dairy mixed

In Class III trade at the Chicago Mercantile Exchange, milk futures were narrowly mixed with nearby months up on follow through technical buying. November was up $.01 at $16.75, December was $.04 higher at $16.98, January was up $.04 at $16.37, and February was $.02 higher at $16.26.

Cash cheese blocks were unchanged at $1.91. Barrels were $.01 lower at $1.74 with one load sold. The last uncovered offer was for one load at $1.75.

Butter was down $.02 at $2.01 with two loads sold.

Nonfat dry milk was up $.0025 at $.9025. There was one load sold at $.9025 along with one at $.8975. The last unfilled bid was on one load at $.89.

Cooperatives Working Together announced the acceptance of 11 requests for export assistance. That covers 1.517 million pounds of Cheddar cheese and 1.091 million pounds of butter. The products are headed to Asia, the Middle East, and Oceania with delivery scheduled for November 2016 through February 2017.

Monday, the Animal Agriculture Alliance announced Dairy Management Inc. and the North American Meat Institute have been added to the group’s board of directors. DMI will be represented by Senior Vice President of Owner Relations Rex Martin.