Market News

CME futures down, cash dairy mixed Monday

Milk futures were sharply down and cash dairy prices were mixed on the Chicago Mercantile Exchange Monday.

January Class Three milk was unchanged at $14.07.  February was down $.19 at $14.30. March was down $.13 at $14.93.  April was down $.11 to $15.40. The milk futures from May through next December ranged from eight cents lower  to seven cents higher.

Dry whey was up $.01 at  $.5050 cents per pound. Two sales were recorded at $.50 and $.5050.

Forty-pound blocks were up $.0125 at $1.4225 per pound.  No sales were recorded.

Barrels were down $.0150 at $1.23 per pound.  One sale was recorded at that price.

Grade AA Butter was unchanged at $2.2575 per pound.  No sales were recorded.

Nonfat dry milk was up $.0125 at $1.0425 per pound.  One sale was recorded at that price.

Slightly more skim milk powder and about the same amount of whole milk powder is expected to be offered in Tuesday’s Global Dairy Trading Event.

The Global Dairy Trade index has risen for the last three events after falling for most of 2018.  Stronger Class IV milk futures also point to better prices for powder and butter.

Global Trading Event #228 begins at 6:00 a.m. CST Tuesday morning.