Class III milk futures at the Chicago Mercantile Exchange were mixed, with nearby contracts up on spread adjustments. By: John Perkins
October was $.09 higher at $16.33, November was up $.04 at $16.20, December was $.05 higher at $16.09, and January was $.02 higher at $15.74.
Cash cheese blocks were $.0075 lower at $1.7275. One load was sold at $1.7275. The last uncovered offer was for one load at $1.63. Barrels were down $.0025 at $1.69. Two loads were sold, one at $1.69 and one at $1.6925. The last uncovered offer was for one load at $1.7025.
Butter was $.02 lower at $2.295. The last unfilled bid was on one load at $2.20. The last uncovered offer was for one load at $2.295.
Nonfat dry milk was down $.005 at $.8225. 11 loads were sold, including one at $.8225 and three each at $.83, $.8325, and $.835. The last unfilled bid was on one load at $.8225. The last uncovered offer was for two loads at $.83.
Cooperatives Working Together announced the acceptance of one requests for export assistance, covering 220,462 pounds of butter headed to Africa with delivery slated for October through December 2017.
The next round of Global Dairy Trade auction results are out Tuesday.
HighGround Dairy reports milk production in New Zealand during August 2017 was down 1.5% on the year, with production by Fonterra’s suppliers 2.5% lower, the lowest total for the month since 2012.
Source: Brownfield Ag News