Market News

Milk futures mixed, cash dairy mostly lower to flat

Class III milk futures at the Chicago Mercantile Exchange closed mostly lower Monday, pressured by a mostly inactive cash session.

September milk closed up a penny at $16.12. October down 15 cents at $16.11.  November down six cents at $16.25.  December down eight cents at $16.04.  January through next August contracts closed four cents lower to a penny higher.

Barrels closed unchanged at $1.42. One trade was made at that price.

Blocks were unchanged $1.6050.

Butter closed up $0.0250 at $2.26. Three trades were made ranging from $2.25 to $2.2625.

Nonfat dry milk was down $0.0050 at $0.87. Two trades were made at that price.

Dry whey remained unchanged at $0.5225.

Cooperatives Working Together reports the export assistance program has helped member co-ops sell more than 50 million pounds of American-type cheese and 50 million pounds of whole milk powder so far this year. Along with nearly 13 million pounds of butter exports, sales have moved the equivalent of almost 1.2 billion pounds of milk.  Nine offers have been accepted this week to sell more than 1.5 million pounds of Cheddar cheese and 8.8 million pounds of whole milk to be contracted for delivery in Asia, Central America, the Middle East and North Africa for delivery between September and March.