In Class III trade at the Chicago Mercantile Exchange, milk futures were mixed, with active nearby contracts supported by spread trade and follow through buying. November was unchanged at $16.76, December was $.15 higher at $17.13, January was up $.09 at $16.46, and February was $.04 higher at $16.30.
Cash cheese blocks were up $.005 at $1.915. The last unfilled bid was on one load at $1.915. Barrels were down $.025 cents at $1.715. There were a total of six trades, ranging from $1.72 to $1.7375. The last uncovered offer was for one load at $1.715.
Butter was $.04 higher at $2.05. There was one load sold at $2.05 and one sold at $2.03. There was one unfilled bid at $2.03.
Nonfat dry milk was $.0025 lower at $.90. There was one load sold at ninety, along with one at $.9025 and one at $.905. The last unfilled bid was on one load at $.88.
The USDA says cheese stocks at the end of October totaled 1.216 billion pounds, up 6% on the year. That includes a 5% increase in American cheese, a 13% jump in Swiss, and a 8% gain in other types to a new all-time high. Butter stocks came out at 227.747 million pounds, 27% above a year ago.
Source: Brownfield Ag News
