Class III milk futures at the Chicago Mercantile Exchange were mostly higher on spread trade and follow through buying. May was up $.03 at $15.63, June was unchanged at $16.48, July was $.07 higher at $16.98, and August was up $.06 at $17.40.
Cash cheese blocks were $.035 higher at $1.67. Four loads were sold, including one at $1.67 and two at $1.66. Barrels were up $.01 at $1.54. 19 loads were sold, five at $1.54 and 14 at $1.53. The last unfilled bid was on two loads at $1.52. The last uncovered offer was for two loads at $1.54.
Butter was $.11 higher at $2.43. Eight loads were sold, including one at $2.43 and three at $2.42. The last unfilled bid was on one load at $2.42. The last uncovered offer was for one load at $2.44.
Nonfat dry milk was unchanged at $.8825. One load was sold at $.8825. The last unfilled bid was on one load, also at $.8825.
The Global Dairy Trade index gained for the fifth event in a row, up 3.2% to an average of $3,313 per ton. Rennet casein was down 3.7%, while anhydrous milk fat was 8.2% higher and butter jumped 11.2%. The next event is scheduled for June 6th.
Source: Brownfield Ag News
