In Class III trade at the Chicago Mercantile Exchange, milk futures were mostly lower on profit taking and spread trade. December was down $.01 at $17.33, January was $.20 lower at $16.99, February was down $.13 at $17.20, and March was $.08 lower at $17.41.
Cash cheese was lower. Blocks were down $.005 at $1.785. There were a total of five trades, including one at $1.785 and two at $1.79. The last unfilled bid was on one load at $1.775. The last uncovered offer was for one load at $1.785. Barrels were $.03 lower at $1.655. There were eight loads sold, five at $1.68 and three at $1.67. The last uncovered offer was for one load at $1.655.
Butter was down $.0275 at $2.22. There were three loads sold, two at $2.22 and one at $2.215. The last uncovered offer was for one load at $2.24.
Nonfat dry milk was $.025 lower at $1.02. There were a total of four trades, including one at $1.02. The last unfilled bid was on one load at $1.01. The last uncovered offer was for one load at $1.0225.
The Global Dairy Trade index was down 0.5% at $3,656 per ton. That’s the first down event since the October 4th auction. Anhydrous milk fat was down 2.3% and lactose was 1.6% lower. Rennet casein was up 3.3% and butter milk powder was 3.1% higher. The next event is scheduled for January 3rd, 2017.
Source: Brownfield Ag News
