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Milk futures mostly firm, cash cheese mixed


Class III milk futures at the Chicago Mercantile Exchange were mostly steady to firm on spread trade and oversold signals. September was unchanged at $16.27, October was up $.05 at $15.77, November was $.05 higher at $15.68, and December was up $.04 at $15.60.

Cash cheese blocks were $.005 lower at $1.5925. Four loads were sold, including one at $1.5925. The last unfilled bid was on one load at $1.58. Barrels were $.0425 higher at $1.485. 11 loads were sold, including five at $1.485 and four at $1.48. The last unfilled bid was on 10 loads at $1.48. The last uncovered offer was for one load at $1.49.

Butter was up $.005 at $2.4675. Seven loads were sold, including three at $2.4675. The last unfilled bid was on one load at $2.4625. The last uncovered offer was for one load at $2.47.

Nonfat dry milk was $.0125 higher at $.835. Two loads were sold, one at $.835 and one at $.84. The last unfilled bid was on two loads at $.83. The last uncovered offer was for one load at $.835.

The Global Dairy Trade index was up 0.9% at $3,368 per ton. Anhydrous milk fat gained 5.3% and butter was 1.2% higher, while rennet casein was 2.4% lower and lactose lost 3.8%. The next event is scheduled for Tuesday, October 3rd.

The Dairy Companies Association of New Zealand reports August milksolids production was 111.385 million kilograms, more than 25 million pounds, down 1.54% from August 2016. HighGround Dairy says New Zealand’s August production usually makes up about 6% of the seasonal total.

Source: Brownfield Ag News


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