Spot butter climbed to $2.4700 per pound, adding $0.0400, with 12 lots trading.
The September butter contract advanced to $2.7300 per pound, ticking up $0.0075.
US milk production reached 19.1 billion pounds in July, down 0.5% year-over-year and generally in line with expectations. Cow numbers dropped to 9.4 million head, down 3,000 cows versus June and -13,000 on the year.
Spot blocks decreased to $2.0075 per pound, shedding two cents, with zero loads exchanged. Barrels eased to $1.8050 per pound, giving up $0.0025, with no lots changing hands.
September Class III futures jumped to $18.88 per hundredweight, gaining 39 cents.
The September “all cheese” contract rose to $1.9960 per pound, increasing by $0.0360.
Spot NDM dipped to $1.1025 per pound, losing $0.0025, with six loads trading.
September NDM futures ticked up to $1.1410 per pound, adding $0.0013.
Spot dry whey slipped to $0.2600 per pound, a penny lower, with four lots exchanged.
Fourth quarter dry whey contracts settled at $0.3187 per pound, up $0.0062.
September corn futures dropped to $4.6925 per bushel, down $0.1025. The September soybean contract climbed to $13.7000 per bushel, tacking on $0.0725.
FROM THE TRADING DESK: Cheese cooled off a bit during today’s spot session, falling slightly on no trades. Futures were bid up in the morning and traded back to unchanged during spot before more bids poured in during the afternoon. Hurricane Hillary seems to be a non-event for the dairy world, as most farms in California experienced moderate-to-heavy rain. Talk around the industry still points to tight milk, as we have about one month left of summer.