Class III milk futures at the Chicago Mercantile Exchange were mostly higher on near term demand expectations and spread trade. August was up $.07 at $16.38, September was $.05 higher at $16.78, October was up $.02 at $16.99, and November was $.04 higher at $17.04.
Cash cheese blocks were unchanged at $1.7075. The last unfilled bid was on one load at $1.70. The last uncovered offer was for one load at $1.7075. Barrels were $.0025 higher at $1.46. Four loads were sold at $1.46. The last unfilled bid was on one load at $1.4575. The last uncovered offer was for one load at $1.46.
Butter was up $.0175 at $2.6075. 14 loads were sold, 12 at $2.605 and one each at $2.6025 and $2.6075. The last unfilled bid was on one load at $2.6025. The last uncovered offer was for two loads at $2.61.
Nonfat dry milk was $.005 lower at $.86. One load was sold at $.86. The last unfilled bid was on one load, also at $.86. The last uncovered offer was for one load at $.8625.
The USDA reports cash butter for the week ending July 22nd averaged $2.59 per pound, down $.022 on the week. 40 pound blocks of cheddar came out at $1.59, $.001 lower. 500 pound barrels averaged $1.45, up $.032. Dry whey was pegged at $.441, $.006 lower. Nonfat dry milk averaged $.891, down $.012.
HighGround Dairy reports milk production in the United Kingdom for the week ending July 15th was up 0.7%, while production in France for the week ending July 16th was down 4.4%.
Source: Brownfield Ag News