Market News

Milk futures lower, cash dairy mixed

Class III milk futures at the Chicago Mercantile Exchange lower Monday as milk production increases slightly in the U.S.

November closed three cents lower at $14.55.  December down 18 cents at $14.66.  January 23 cents lower at $14.81.  February down 15 cents at $14.99.  March through next October contracts closed 13 cents lower to a penny higher.

Blocks closed $0.0425 lower at $1.41.  Four trades were made ranging from $1.41 to $1.44.

Barrels were down $0.0625 at $1.2975.

Dry whey closed unchanged at $0.43

Butter was up $0.0550 at $2.33.  Three trades were made ranging from $2.3075 to $2.33.

Nonfat dry milk was unchanged at $0.8850.  Two sales were made at $0.88 and $0.8850.

Cooperatives Working Together has accepted 23 requests for export assistance from member co-ops that will move more than 8.6 million pounds of Cheddar and Monterey Jack cheese, 716,000 pounds of butter, and 1.7 million pounds of whole milk powder.   Delivery is contracted for November through May.