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Milk Futures Lower, Cash Cheese Unchanged

Tuesday, February 9th, 2016

In Class III trade at the Chicago Mercantile Exchange, milk futures were lower, pressured by the lower global price trend, the available supply, and slow export numbers for December. Spillover from the outside markets and the generally negative tone in the commodities were also factors. February was down $.05 at $13.78 and March was $.09 lower at $13.87, while April was down $.03 at $13.93 and May was $.03 lower at $14.12.

Over in the spot market, cash cheese was unchanged. Barrels held at $1.465. Blocks were steady at $1.47, with the last bid unfilled on one load at that price.

Butter was down $.015 at $2.155, with one load sold.

Grade A nonfat dry milk was unchanged at $.75. The last bid unfilled was on one load at that price. The last offer uncovered was for two loads at $.755.
Source: Brownfield AgNews
(T1, D1)

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