In Class III trade at the Chicago Mercantile Exchange, milk futures were down on another round of profit taking after last week’s late move to new contract highs. December was $.05 lower at $16.98, January was down $.17 at $16.58, February was $.12 lower at $16.71, and March was down $.10 at $16.69.
Cash cheese was lower. Blocks were down $.0275 at $1.7325. There was one trade at $1.7325, along with one at $1.74. The last unfilled bid was on one load at $1.72. Barrels were $.0075 lower at $1.5925. There were a total of five loads sold, including one at $1.5925 and two at $1.5975. The last uncovered offer was for one load at $1.60.
Butter was up $.0075 at $2.12. There were two loads sold at $2.12. The last unfilled bid was on one load at $2.10.
Nonfat dry milk was down $.015 at $.975. There were two loads sold at $.975. The last uncovered offer was for two loads at $.98.
The Global Dairy Trade index was up 3.5% from the previous auction at an average of $3,622 per ton. Lactose jumped 10.6% and whole milk powder was 4.9% higher, while butter milk powder was the only declining sector, losing 2.6%. The next auction is scheduled for December 20th.
Source: Brownfield Ag News
