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Milk futures mostly higher, GDT up sharply

Futures Markets copy

In Class III trade at the Chicago Mercantile Exchange, milk futures were mostly higher with the most active months responding to the Global Dairy Trade numbers. August was down $.01 at $16.99, September was $.17 higher at $17.39, October was up $.21 at $17.11, and November was $.15 higher at $16.75.

Over in the spot market, cash cheese was unchanged. Blocks held at $1.78. The last uncovered offer was for one load at that price. Barrels were steady at $1.865. The last uncovered offer was for one load at $1.875.

Butter was down $.01 at $2.24. There were a total of four trades reported, three at $2.28 and one at $2.24. The last uncovered offer was for two loads at $2.24.

Nonfat dry milk was up $.0175 at $.8425. There was one load sold at $.84. The last unfilled bid was on one load at $.8425. The last uncovered offer was for one load at $.85.

The Global Dairy Trade Index Tuesday shot higher, up 12.7% to $2,731 per ton. All commodities were higher, with whole milk powder up 18.9% and butter milk powder 18.1% higher. The next GDT auction is scheduled for Tuesday, September 6th.

Cooperatives Working Together announced the acceptance of 13 requests for export assistance. The assistance covers 1.5 million pounds of Cheddar, Colby, Gouda, and Monterey Jack cheeses. The exporters are DFA, Darigold, and the Tillamook County Creamery Association. The products are headed to Asia, Central America, the Middle East, and North Africa with delivery slated from August through December 2016.

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