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Milk futures, cash dairy mostly lower


Class III milk futures at the Chicago Mercantile Exchange were mostly lower on spread trade, demand uncertainties, and follow through selling. September was up $.04 at $16.27, October was down $.05 at $15.72, November was $.03 lower at $15.62, and December was down $.05 at $15.56.

Cash cheese blocks were $.015 lower at $1.5975. Five loads were sold, including three at $1.5975. The last uncovered offer was for one load at $1.61. Barrels were down $.0075 at $1.4425. 18 loads were sold, including one at $1.4425. The last unfilled bid was on one load at $1.43. The last uncovered offer was for one load at $1.48.

Butter was $.015 higher at $2.4625. One load was sold $2.4575. The last unfilled bid was on one load at $2.4625. The last uncovered offer was for one load at $2.4675.

Nonfat dry milk was unchanged at $.8225. The last unfilled bid was on two loads at $.82. The last uncovered offer was for one load at $.84.

Cooperatives Working Together announced the acceptance of nine requests for export assistance, covering 760,600 pounds of Cheddar and Monterey Jack cheeses, along with 275,600 pounds of butter. The products are headed to Asia with delivery slated for September through December 2017.

The next Global Dairy Trade event is scheduled for Tuesday, September 19th.

Source: Brownfield Ag News


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