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Milk futures, cash cheese higher

Tuesday, April 4th, 2017

Class III milk futures at the Chicago Mercantile Exchange were higher, following through on the recent gains, extending the oversold and technical bounce. April was up $.25 at $15.56, May was $.11 higher at $15.86, June was up $.11 at $16.12, and July was $.08 higher at $16.67.

Cash cheese blocks were up $.01 at $1.53. There was one load sold at $1.53. The last unfilled bid was on one load, also at $1.53. Barrels were $.025 higher at $1.495. There were a total of 10 loads sold, including two at $1.495. The last uncovered offer was for two loads at $1.50.

Butter was up $.02 at $2.1275. There was one load sold at $2.1275. The last uncovered offer was for one load at $2.14.

Nonfat dry milk held at $.80. The last unfilled bid was on one load at $.80. The last uncovered offer was for one load at $.815.

Cooperatives Working Together announced the acceptance of 12 requests for export assistance covering 2.01 million pounds of Cheddar and Monterey Jack cheeses. The products are headed to Asia, Central America, the Middle East, and Oceania with delivery slated for March through June.

Source: Brownfield Ag News

(T4, D1)

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