Market News

Milk futures, cash dairy mostly lower

Class III futures at the Chicago Mercantile Exchange were mostly weak on high production levels and spread trade. May was down $.03 at $15.61, June was $.02 lower at $15.85, July was down $.04 at $16.22, and August was $.01 lower at $16.59.

Cash cheese blocks were up $.0075 at $1.5525. The last unfilled bid was on one load at $1.5525. The last uncovered offer was for one load at $1.56. Barrels were unchanged at $1.4275.

Butter was down $.015 at $2.075. Three loads were sold, including two at $2.075 and one at $2.08. The last unfilled bid was on one load at $2.0725. The last uncovered offer was for one load at $2.07.

Nonfat dry milk was $.01 lower at $.845. One load was sold at $.845. The last uncovered offer was for one load at $.86.

Cooperatives Working Together announced the acceptance of six requests for export assistance on 740,753 pounds of cheddar cheese. The products are headed to Asia and the Middle East with delivery from April through June of this year.