Class III milk futures at the Chicago Mercantile Exchange were up on follow through buying and expectations for lower intakes as temperatures rise. July was $.04 higher at $15.72, August was up $.14 at $16.66, September was $.14 higher at $16.88, and October was up $.16 at $17.11.
Cash cheese blocks were $.015 higher at $1.555. One load was sold at $1.5525. The last unfilled bid was on three loads at $1.555. The last uncovered offer was for one load at $1.58. Barrels were $.0025 lower at $1.3675. Nine loads were sold, including two at $1.3675. The last unfilled bid was on five loads at $1.36. The last uncovered offer was for one load at $1.37.
Butter was down $.0725 at $2.5725. 15 loads were sold, including one at $2.5725. The last unfilled bid was on two loads at $2.5525. The last uncovered offer was for one load at $2.5725.
Nonfat dry milk was up $.0125 at $.8625. One load was sold at $.86. The last unfilled bid was on one load at $.8625. The last uncovered offer was for one load at $.87.
The USDA reports cash butter for the week ending July 1st averaged $2.56 per pound, up $.005 on the week. 40 pound blocks of cheddar came out at $1.64, down $.05. 500 pound barrels averaged $1.44, $.054 lower. Dry whey was pegged at $.473, down $.004. Nonfat dry milk averaged $.917, $.005 lower.
HighGround Dairy reports milk production in the United Kingdom for the week ending June 24th was down 0.1% on the year, while production in France for the week ending June 25% dropped 3.3%, with HighGround citing hot temperatures, which have also damaged France’s soft wheat and corn crops.
Source: Brownfield Ag News
