Market News

Quiet cash markets but Class III moves higher

A very quiet day in the dairy markets on the Chicago Mercantile Exchange on Monday.  No activity in the cheese and nonfat dry milk markets while one unfilled bid pushed butter 2.25 cents higher.  Dairy Market News says butter makers would like to make more butter and store it for future use but current demand isn’t allowing that to happen.  Class III futures saw some nice double-digit increases through December.  May, June and July contracts all closed over $16 with August through December over $17.

 

Cooperatives Working Together (CWT) has accepted 11 requests for export assistance from Dairy Farmers of America, Michigan Milk Producers Association, Northwest Dairy Association (Darigold), and Tillamook County Creamery Association who have contracts to sell 1.993 million pounds of Cheddar, and Monterey Jack cheese and 1.332 million pounds of whole milk powder to customers in Asia, the Middle East, and Central America. The product has been contracted for delivery in the period from April through October 2015.

Year-to-date, CWT has assisted member cooperatives who have contracts to sell 27.756 million pounds of cheese, 24.387 million pounds of butter, and 8.653 million pounds of whole milk powder to twenty two countries on five continents

 

New York Governor Andrew Cuomo is leading a trade mission from his state to Cuba.  Among the participants: Hamdi Ulukaya  of Chobani Greek Yogurt and Kevin Ellis, CEO of Cayuga Milk Ingredients; a small farmer-owned cooperative in Central New York State.

Ulukaya says he will meet with government officials and private citizens to share his view on the role entrepreneurs can and will play in shaping Cuba’s future.  The Chobani founder says: “It’s a new chapter for both countries and we’re excited to play a part.”