Class III milk futures at the Chicago Mercantile Exchange were mostly modestly higher on spread trade and follow through buying. September was down $.01 at $16.26, October was up $.14 at $19.51, November was $.10 higher at $15.78, and December was up $.10 at $15.70.
Cash cheese blocks were $.005 higher at $1.5975. Six loads were sold, including two at $1.5975. The last unfilled bid was on two loads at $1.5925. The last uncovered offer was for one load at $1.64. Barrels were up $.0275 at $1.5125. 15 loads were sold, including one at $1.5125. The last unfilled bid was on one load, also at $1.5125. The last uncovered offer was for one load at $1.54.
Butter was $.005 higher at $2.4725. One load was sold at $2.4725. The last unfilled bid was on one load at $2.46. The last uncovered offer was for one load at $2.475.
Nonfat dry milk was $.015 lower at $.82. Four loads were sold, including one at $.82. The last unfilled bid was on one load at $.8175. The last uncovered offer was for one load at $.83.
The USDA has set the base Class I milk price for October at $16.44 per hundredweight, down $.27 from September, with the base skim price at $6.67, up $.34.
The USDA reports cash butter for the week ending September 16th averaged $2.50, $.082 lower than the previous week. 40 pound blocks of cheddar were pegged at $1.67, down $.002. 500 pound barrels averaged $1.62, a decrease of $.026. Dry whey came out at $.418, a decline of $.007. Nonfat dry milk averaged $.848, $.026 less than the week before.
According to HighGround Dairy, milk production in Germany for the week ending September 3rd was up 1.6% on the year, while production in the United Kingdom for the week ending September 9th was 2.5% higher, and production in France for the week ending September 10th increased 1.4%.
Source: Brownfield Ag News
