Market News

Milk futures mostly lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange closed mostly lower Monday while cash trade was mixed.

July Class III milk futures unchanged at $17.41.  August up three cents at $17.69.  September down a penny at $17.98.  October six cents lower at $17.93.  November through February contracts two to five cents lower.

Dry whey up $0.0025 at $0.3425.  One trade was made at that price. 

Blocks up $0.0125 at $1.7925.

Barrels up $0.0075 at $1.7125.  Two trades were made at $1.71 to $1.7125. 

Butter down $0.0225 at $2.3750.  Eight trades were made ranging from $2.3750 to $2.3850.

Nonfat dry milk unchanged at $1.0075. 

The USDA says the amount of cheese and butter in cold storage during June was down slightly from last year.

Cheese stocks totaled nearly 1.4 billion pounds, down one percent on the month and on the year.  American and other types of cheese made up most stocks.

Butter inventories were up four percent from May, but down three percent from last year at almost 328 million pounds.