Market News

Milk futures lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange were continued lower Tuesday, pressured by slight declines in the Global Dairy Trade report, cash markets were mixed.

August Class III milk futures down a penny at $17.61.  September down eight cents at $17.70.  October seven cents lower at $17.71.  November down a penny at $17.42.  December through March contracts unchanged to three cents lower.

Dry whey up $0.0175 at $0.3875. 

Blocks up $0.0025 at $1.91.  Two trades were made at $1.9050.

Barrels down $0.04 at $1.71.  Six trades were made ranging from $1.71 to $1.7125. 

Butter down $0.02 at $2.31.  Three trades were made at $2.31 and $2.3125.

Nonfat dry milk down $0.0025 at $1.0275.  Four trades were made at $1.0275 and $1.03.

The Global Dairy Trade auction index in New Zealand was marginally lower.  The index decreased 0.2 percent from the last event to $3,255 per ton. Renate saw the largest decline, down 8.1 percent.  Lactose, anhydrous milk fat and butter were also lower while whole milk powder and cheddar had the only gains.