Market News

Milk futures mostly higher, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange closed mostly higher Tuesday picking up some strength in global markets while cash trade was mixed.

July Class III milk futures down two cents at $17.31.  August up seven cents at $17.50.  September up a dime at $17.72.  October 14 cents higher at $17.73.  November through February contracts one to 10 cents higher.

Dry whey up $0.0025 at $0.3225.  One trade was made at that price.

Blocks up $0.0125 at $1.7750.

Barrels down $0.0225 at $1.69.  Nine trades were made ranging from $1.69 to $1.71.  

Butter up $0.0050 at $2.4350.  Four trades were made ranging from $2.43 to $2.45.

Nonfat dry milk down $0.0025 $1.0250. 

The Global Dairy Trade auction index in New Zealand increased for the first time since the beginning of May.  The index increased 2.7 percent from the last event to $3,412 per ton. Skim milk powder saw the largest gain, up 3.8 percent, while rennet casein reported the only loss, down 3.4 percent.