The dairy commodities spot market on the Chicago Mercantile Exchange saw an uptick of both prices and sales volume on Wednesday of this week.
Cheddar cheese led the way with the sales of eight carloads of blocks and nine of barrels as the prices rose by 1.75 and 3 cents per pound respectively to put them at $1.6925 and $1.68 at the market's close.
The market day's activity also included unfilled bids for one carload of blocks and two of barrels.
The AA butter market remained quiet with the price standing at $1.4825 per pound.
The same was true for Grade Extra non-fat dry as its spot market price remained at $1.73 per pound while Grade A had an unfilled bid to buy which raised the price by .25-cent to $1.7550 per pound.
Green ink predominated in the dry whey futures market on Wednesday of this week. The increases put the monthly prices at between 58 and 59.75 cents per pound for the remainder of 2013 and above 50 cents through May of 2014.
Despite the day's price gains for dairy commodities, the Class III milk futures traded on the downside for all but one month from August of 2013 through June of 2014.
Prices stood in the $17s per hundred for this July ($17.38) and for all months from December 2013 through December 2014. They were trading in the $18s per hundred for August-November 2013.
The producer price differential (PPD) for milk shipped in June and pooled in Federal Milk Marketing Order 30 is 30 cents per hundred for the Chicago base zone but as little as 10 cents per hundred in the most distant milk receiving plants.
The PPD continues to be low in Order 30 in large part because of the historically low portion of the pooled milk going to Class I fluid milk - only 9.5 percent in June.
Of the nearly 2.847 billion pounds of milk pooled in Order 30 for June, the other usages were 87.6 percent in Class III and a total of 2.9 percent for Classes II and IV.
The pooled milk had averages of 3.71 percent butterfat, 3.04 percent protein, and 5.76 percent other solids.
Early this week, Cooperatives Working Together announced the acceptance of a package of 30 bids for financial assistance on the export of 4.398 million pounds of Cheddar and Monterey Jack cheeses and 3.522 million pounds of butter to countries in Asia, Europe, North Africa, and the Middle East in deliveries set from July to December.
Those bids were submitted by Dairy Farmers of America, Foremost Farms USA, Land O'Lakes, Darigold Cooperative, and the Maryland and Virginia Milk Producers Cooperative.
The national milk production estimates for June are due to be released at 2 p.m. today (Friday, July 19).