Market News

Milk futures, cash dairy mostly higher

Class III milk futures at the Chicago Mercantile Exchange were mixed, with the most active months up on technical buying and spread trade. August was $.02 higher at $16.47, September was up $.21 at $17.05, October was $.10 higher at $17.08, and November was up $.08 at $17.01.

Cash cheese blocks were $.01 higher at $1.735. One load was sold at $1.715. The last unfilled bid was on one load at $1.735. Barrels were up $.03 at $1.67. Five loads were sold, including two at $1.67. The last unfilled bid was on one load at $1.665.

Butter was $.0075 lower at $2.6625. 34 loads were sold, including two at $2.6625. The last unfilled bid was on three loads at $2.645. The last uncovered offer was for one load at $2.6675.

Nonfat dry milk was unchanged at $.8475. The last unfilled bid was on 14 loads at $.84. The last uncovered offer was for one load at $.86.

The USDA reports cash butter for the week ending August 13th averaged $2.67 per pound, up $.026 on the week. 40 pound blocks of cheddar cheese came out at $1.74, $.055 higher. 500 pound barrels averaged $1.55, up $.041. Dry whey was pegged at $.433, down $.005. Nonfat dry milk averaged $.882, $.02 lower.

According to HighGround Dairy, milk production in the United Kingdom for the week ending August 5th was up 1.7%, while production France for the week ending August 6th was 1.8% lower and production in Germany, also for the week ending August 6th, was down 1.6%.