Market News

CME milk futures lower, cash dairy mixed Monday

Milk futures were lower and cash dairy markets were mixed on the Chicago Mercantile Exchange Monday.

December Class Three milk was unchanged at $13.80.  January was down $.02 to $14.20. February was down $.11 at $14.54.  March was down $.13 at $14.93. The milk futures from April through next November ranged from zero to 11 cents lower.

Dry whey was unchanged at  $.45 cents per pound. No sales were recorded.

Forty-pound blocks were up $.0025 at $1.41 per pound.  No sales were recorded.

Barrels were up $.01 at $1.32 per pound.  Four sales were made at that price.

Grade AA Butter was down $.0050 at $2.1850 per pound.  No sales were recorded.

Nonfat dry milk was down $.0050 at $.9350 per pound.  One trade was made at $.9275.

Some analysts are predicting the Tuesday Global Dairy Trade event will have more whole milk powder and Rennet Casein than two weeks ago, as Fonterra shifts more of its production to whole milk powder.

Highground Dairy experts predict buyers will step in to procure 2019 needs with commodity values near multi-year lows.

The next trading event is set for early Tuesday morning.