Market News

Milk futures mostly lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange closed lower Tuesday pressured by declining world prices.

May Class III milk down unchanged at $16.29.  June down seven cents at $16.44.  July 13 cents lower at $16.63.  August down 17 cents at $16.93.  September through January contracts 12 to 14 cents lower.

Dry whey up $0.02 at $0.37. 

Blocks up $0.0075 at $1.68.  One trade was made at that price.

Barrels down $0.0225 at $1.6025.  Nine trades were made ranging from $1.6225 to $1.6275. 

Butter down $0.0125 at $2.3275.  One trade was made at that price.

Nonfat dry milk up $0.0025 at $1.0475.  Three trades were made ranging from $1.0425 to $1.0475.

The Global Dairy Trade auction index in New Zealand declined for the first time since November.  The index declined 1.2 percent from the last event at $3,417 per ton. It was a lightly traded session with declines reported in butter, whole milk powder and anhydrous milk fat.  Cheddar was up more than 15 percent, rennet casein up more than five percent.

Cooperatives Working Together says six offers for export assistance have been accepted to help move more than 335,000 pounds cream cheese and nearly 600,000 pounds of whole milk powder.

Delivery is contracted for May through September and will sent to customers in Asia and South America.