Market News

Milk futures, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange were mixed Tuesday following the direction of cash trade.

June up a penny at $16.31.  July down four cents at $17.04.  August unchanged at $17.44.  September up four cents at $17.68.  October through February contracts a penny lower to seven cents higher.

Dry whey up $0.0025 at $0.3550.  Seven trades were made ranging from $0.3550 to $0.3575.

Blocks up $0.0050 at $1.8250.  One trade was made at that price.

Barrels unchanged at $1.72.  Six trades were made ranging from 1.7175 to $1.72.

Butter up $0.0150 at $2.4175.  One trade was made at $2.42.  

Nonfat dry milk down $0.0050 at $1.0350.  Five trades were made ranging from $1.0325 to $1.0375.

New Zealand export volumes during May were mostly lower than the previous month but higher than last year.  Caseinates are up nearly 60 percent from 2018.

May imports into China were mostly lower than in April and last year.  Imports of Whey protein concentrate and skim milk powder remain higher than last year while anhydrous milk fat and whey product imports are down.