In Class III trade at the Chicago Mercantile Exchange, milk futures were pressured by profit taking and follow through selling. September was down $.23 at $16.58, October was $.36 lower at $16.81, November was down $.33 at $16.69, and December was $.31 lower at $16.25.
Over in the spot market, cash cheese was lower. Blocks were down $.02 at $1.70. There were a total of six trades, including one at the closing price. The last unfilled bid was on one load at $1.69. Barrels were $.04 lower at $1.62. There were eight loads sold, one at that price. The last unfilled bid was on one load at $1.61. The last uncovered offer was for one load at $1.63.
Butter was unchanged at $2.035. The last uncovered offer was for one load at $2.05.
Nonfat dry milk was up $.0075 at $.905s. There was one load sold at $.90. The last unfilled bid was on one load at $.905. The last uncovered offer was for one load at $.91.
The USDA says butter for the week ending September 3rd averaged $2.12 per pound, down $.10 on the week. 40 pound blocks of cheddar cheese were pegged at $1.83, $.017, and 500 pound blocks averaged $1.88, $.03 lower. Dry whey came out at $.297, up $.005. Nonfat dry milk averaged $.853, down $.011.
