In Class III trade at the Chicago Mercantile Exchange, milk futures were higher, with most months up sharply, continuing to build on last week’s late gains. Milk is watching summer weather forecasts and reacting to some of the recent gains in feed ingredients, like corn and soybean meal. June was up $.06 at $13.22, July was $.28 higher at $14.19, August was up $.42 at $14.98, and September was $.35 higher at $15.35.
Over in the spot market, cash cheese was higher. Barrels were up $.045 at $1.49. The last bid unfilled was on one load at $1.49. Blocks were $.015 higher at $1.455. The last bid unfilled was on one load at that price.
Butter was up four cents at $2.14. There was one bid unfilled at that price.
Nonfat dry milk was down $.0225 at $.79. There were two loads sold, one at $.81 and one at $.8125. The last bid unfilled was on two loads at $.78. The last offer uncovered was for one load at $.79.
Cooperatives Working Together announced the acceptance of five requests for export assistance. The contracts are for almost 660,000 pounds of cheddar cheese, more than 100,000 pounds of butter, and more than 130,000 pounds of whole milk powder. The requests came from Darigold and the Michigan Milk Producers Association. The products are headed to Asia and South America between June and November of this year.
Source: Brownfield Ag News
