Market News

Milk futures mostly higher, cash dairy mixed

Class III milk futures at the Chicago Mercantile Exchange closed mostly higher Tuesday as global prices posted declines on at the Global Dairy Trade auction.

October closed two cents higher at $15.62.  November up three cents at $15.75.  December unchanged at $15.73.  January three cents lower at $15.69.  February through next September contracts closed two cents lower to a nickel higher.

Barrels were down $0.0050 at $1.3325.  Two trades were made at $1.3325 and $1.34.

Blocks were a penny higher at $1.62.  One trade was made at that price.

Butter was down $0.02 at $2.27.  Four sales were made ranging from $2.26 to $2.27.

Nonfat dry milk closed unchanged at $0.8725.

Dry whey was up $0.0075 at $0.57.

The Global Dairy Trade auction index in New Zealand declined for the fifth straight time.  The Index dropped 3 percent from the last event to $2,885 per ton. Product categories saw mixed activity with butter up 2.4 percent, Lactose 1.5 percent higher and anhydrous milk fat up 1 percent.  Cheddar dropped 1.8 percent followed by Rennet Casein at 1.7 percent and whole milk powder 0.9 percent lower.