Class III milk futures at the Chicago Mercantile Exchange were mostly higher on spread trade and oversold signals, ahead of the USDA’s monthly supply and demand report. March was down $.07 at $15.88, April was up $.14 at $16.13, May was $.13 higher at $16.25, and June was up $.16 at $16.45.
Cash cheese blocks were $.02 lower at $1.44. There were three loads sold, including one at $1.44. The last unfilled bid was on one load, also at $1.44. The last uncovered offer was for one load at $1.45. Barrels were $.02 higher at $1.45. There were a total of seven loads sold, including one at $1.45 and two at $1.44. The last unfilled bid was on one load at $1.42. The last uncovered offer was for one load at $1.46.
Butter was up $.03 at $2.1975. There was one load sold at $2.1975. The last uncovered offer was for one load at $2.20.
Nonfat dry milk was $.01 higher at $.81. The last unfilled bid was on one load at $.81. The last uncovered offer was for one load at $.83.
The USDA reports cash butter for the week ending March 4th averaged $2.16 per pound, up $.018 on the week. 40 pound blocks of cheddar came out at $1.64, down $.036. 500 pound barrels averaged $1.66, $.024 lower. Dry whey was pegged at $.513, $.008 higher. Nonfat dry milk averaged $.927, $.029 lower.
California’s Department of Food and Agriculture says nonfat dry milk for the week ending March 3rd averaged $.9258 per pound, down $.0361 from the previous week. Sales were 6,173,797 pounds, up 1,101,268.
Source: Brownfield Ag News
