Market News

Butter gains 1.5 cents

After falling 80.5 cents last week, cash butter gained a penny-and-a-half on the Chicago Mercantile Exchange on Monday.  There were a dozen sales and buyers jumped-in to take advantage of what might be the lowest price.  One unfilled bid set the market at $2.015.  Cash cheese increased 3.75 cents on both the barrels and the blocks while nonfat dry milk lost 6 cents.  Class III futures reflected the higher cheese prices with the exception of the December contract which slipped a dime.

 

Cooperatives Working Together (CWT) has accepted 9 requests for export assistance from Dairy Farmers of America (DFA), and Tillamook County Creamery Association to sell 3.252 million pounds of butter (82% milkfat) and 55,116 pounds of Cheddar cheese to customers in Europe, the Middle East and North Africa. The product will be delivered December 2014 through April 2015.

Year-to-date, CWT has assisted member cooperatives in selling 86.677 million pounds of cheese, 51.426 million pounds of butter and 37.847 million pounds of whole milk powder to 43 countries on six continents.