Class III milk futures at the Chicago Mercantile Exchange were up on an oversold bounce. February was $.07 higher at $16.85, March was up $.13 at $16.94, April was $.09 higher at $17.02, and May was up $.12 at $17.15.
Cash cheese blocks were down $.01 at $1.62. There were three loads sold, two at $1.62 and one at $1.63. The last uncovered offer was for one load at $1.63. Barrels were $.015 lower at $1.685. The last uncovered offer was for two loads at $1.685.
Butter was $.0175 higher at $2.1775. There were a total of four loads sold, including one at $2.1775. The last uncovered offer was for two loads at $2.18.
Nonfat dry milk was up $.01 at $.96. There were three loads sold at $.96. The last unfilled bid was on four loads at $.96. The last uncovered offer was for one load at $.97.
The Global Dairy Trade index was up modestly for the second event in a row, gaining 1.3% to $3,537 per ton. Lactose was up 12.4% and butter was 4.9% higher, while Butter milk powder was down 7.5% and cheddar cheese was 3.7% lower. The next event is scheduled for Tuesday, February 21st.
Cooperatives Working Together announced the acceptance of six requests for export assistance from member coops. That covers 557,770 pounds of cheddar and Monterey Jack cheeses. The products are headed to Asia with delivery slated for February through April.
The USDA says butter for the week ending February 4th averaged $2.23 per pound, down $.027 on the week. 40 pound blocks of cheddar came out at $1.72, $.001 lower. 500 pound barrels averaged $1.61, a decline of $.044. Dry whey was pegged at $.469, up $.009. Nonfat dry milk averaged $1.02, down $.004.
California’s Department of Food and Agriculture reports the average nonfat dry milk price for the week ending February 3rd was $1.0276 per pound, up $.0301 from the previous week. Sales of 9,282,681 pounds were 3,258,953 higher than the week before.
Source: Brownfield Ag News
