In Class III trade at the Chicago Mercantile Exchange, milk futures were lower on profit taking and technical selling, giving back Tuesday’s gains, and in many months, a little bit more. September was down $.14 at $16.46, October was $.04 lower at $16.58, November was down $.08 at $16.31, and December was $.07 lower at $16.00.
In the spot market, cash cheese blocks were down $.03 at $1.68. The last uncovered offer was for one load at that price. Barrels were steady at $1.625. The last unfilled bid was on one load at that price.
Butter was $.03 lower at $2.08. There were two trades, one at $2.06 and one at $2.08. The last unfilled bid was on one load at $2.07. The last uncovered offer was for one load at $2.10.
Nonfat dry milk was unchanged at $.855. The last unfilled bid was on three loads at $.85. The last uncovered offer was for one load at $.865.
California’s Department of Food and Agriculture says for the week ending August 26th, nonfat dry milk averaged $.85 per pound, up eight tenths of a cent on the week. Sales of 6.4 million pounds were more than three million higher than the week before.
Source: Brownfield Ag News
