Market News

Milk futures mostly higher, GDT Index up

In Class III trade at the Chicago Mercantile Exchange, milk futures were mostly higher, with support from the Global Dairy Trade Auction. April was unchanged at $13.71 and May was down $.01 at $13.65, while June was up $.04 at $14.02 and July was $.06 higher at $14.52.

Over in the spot market, cash cheese was unchanged. Barrels held at $1.42 and blocks were steady $1.4275.

Butter was unchanged at $2.07. The last bid unfilled was on one load at that price. The last offer uncovered was for one load at $2.0975.

Nonfat dry milk was up $.005 at $.74. The last bid unfilled was on two loads at that price. The last offer uncovered was for four loads at $.76.

For the third time in the past four auctions, the Global Dairy Trade Index was higher, up 3.8% at $2,263 per ton. Lactose was 8% higher and whole milk powder and rennet casein were both up 7.5%. The only category to post a decline was cheddar cheese, down 3.9%.