Market News

Milk futures, cash dairy mixed

Class III milk futures at the Chicago Mercantile Exchange closed mixed Tuesday, somewhat supported by declining global prices.

August milk closed a penny lower at $15.01.  September milk up a penny at $15.70.  October closed up three cents at $16.04.  November up four cents at $16.05.  December through next July contracts closed two cents lower to two cents higher.

Barrels were down $0.0775 at $1.57 with another active session.  Twelve trades were made ranging from $1.57 to $1.5975.

Blocks closed up $0.0075 at $1.6175.  Three trades were made ranging from $1.6075 to $1.62.

Nonfat dry milk closed up $0.0150 at $0.8825.  Seventeen trades were made ranging from $0.87 to $.8225.

Butter closed down $0.0125 at $2.2375.  Three trades were made, one at $2.2425 and two at $2.2450.

Dry whey was unchanged at $0.4475.

The Global Dairy Trade auction index dropped to the second lowest level since at least March.  The Index declined 3.6 percent from the last event at $3,044 per ton. Butter was down 8.5 percent, anhydrous milk fat fell 6.9 percent and cheddar dropped 4.7 percent.  Rennet Casein saw the only increase, up 2.8 percent.

Cooperatives Working Together has announced the acceptance of five requests for export assistance from member co-ops.  More than 101,000 pounds of Cheddar and Monterey Jack cheeses, 220,000 pounds of butter and nearly 212,000 pounds of whole milk powder will be contracted for delivery in Asia, South America and the Middle East for delivery between August and December.