Class III futures at the Chicago Mercantile Exchange were mostly higher on spread trade, short covering, and the higher Global Dairy Trade index. April was unchanged at $15.24, May was $.07 higher at $15.21, June was up $.11 at $15.40, and July was $.09 higher at $15.89.
Cash cheese blocks were unchanged at $1.475. Barrels were $.0075 lower at $1.42. Four loads were sold, all at $1.42. The last uncovered offer was for two loads at $1.42.
Butter was down $.0125 at $2.0625. Five loads were sold, including one at $2.0625. The last unfilled bid was on one load at $2.06. The last uncovered offer was for one load at $2.07.
Nonfat dry milk was steady at $.85. The last unfilled bid was on one load at $.845. The last uncovered offer was for one load at $.86.
The Global Dairy Trade auction index was up 3.1% at an average $3,139 per ton, the third event in a row with a gain. Skim milk powder was 7.1% higher and cheddar cheese was up 6.0%, while rennet casein was down 3.8% and anhydrous milk fat was 0.5% lower. Butter milk powder was untested. The next event is scheduled for May 2nd.
Source: Brownfield Ag News