Market News

CME dairy & Global Dairy Trade index up Tuesday

Milk futures were higher and cash dairy prices were mixed on the Chicago Mercantile Exchange Tuesday.

February Class Three milk was up $.01 at $14.00.  March was up $.17 at $14.71. April was up $.12 to $14.55.  May was up $.07 to $14.88. The milk futures from June through next January ranged from zero to five cents higher.

Dry whey was up $.0025 at  $.3550 cents per pound. Ten sales were recorded from $.3525 to $.3575.

Forty-pound blocks were up $.0150 at $1.5950 per pound.  One sale was recorded at $1.59.

Barrels were down $.0025 at $1.4325 per pound.  Eight sales were recorded at $1.4350.

Grade AA Butter was unchanged at $2.25 per pound.  Eight sales were recorded from $2.2375 to $2.25.

Nonfat dry milk was unchanged at $.9875 per pound.  One sale was recorded at $.9850.

The Global Dairy Trade index rose nine-tenths of a percent in Tuesday morning’s trading to an average of $3,271 dollars per metric ton.

Most of the 25-thousand-plus metric tons sold was whole milk powder and skim milk powder.  Whole milk powder rose three-tenths of a percent to $3,022 a ton, or $1.37 a pound.  Skim milk powder was up 2.8% to $2,580 a ton or $1.17 a pound.

Anhydrous milk fat gained seven-tenths of a percent to $5,620 a ton or $2.54 a pound.  Cheddar cheese rose 2.9% to $3,667 a ton or $1.66 a pound.  Butter prices gained 1.2% to $4,495 a ton or $2.03 a pound.  Rennet Casein prices rose 2.7% to $5,740 a ton or $2.60 a pound.

Prices were up for every product except lactose, which dropped 2.9% to $998 dollars a ton, or $.45 a pound.  Sweet whey powder and butter milk powder were not offered at this sale event.

Tuesday’s GDT sale was the sixth event in a row with a gain in the index, but it was the smallest gain since early December.  The market had a big upward spike in the index February 6^th.