Class III milk futures at the Chicago Mercantile Exchange were pressured by demand uncertainties and the bearish cheese and butter numbers from the USDA’s cold storage report Monday. June was down $.08 at $16.21, July was $.04 lower at $16.71, August was down $.06 at $17.08, and September was $.07 lower at $17.19.
Cash cheese blocks were $.005 lower at $1.645. Five loads were sold, including two at $1.645. The last uncovered offer was for one load at $1.65. Barrels were down $.0075 at $1.4725. 11 loads were sold, including five at $1.4725 and five at $1.475. The last uncovered offer was for one load at $1.475.
Butter was unchanged at $2.3625. The last unfilled bid was on one load at $2.3625. The last uncovered offer was for one load at $2.3675.
Nonfat dry milk was $.005 higher at $.93. Six loads were sold, including four at $.93. The last unfilled bid was on one load, also at $.93. The last uncovered offer was for one load at $.935.
Source: Brownfield Ag News
