Market News

Milk futures lower, cash dairy mixed

Tuesday brought the recent run-up in milk futures on the Chicago Mercantile Exchange to an end as both futures and cash prices closed mostly lower.

September Class III milk down a nickel at $18.29.  October down 75 cents at $18.99.  November 58 cents lower at $18.15.  December down 49 cents at $17.34.  January through April contracts 25 to 34 cents lower.

Dry whey unchanged at $0.3975. 

Blocks down $0.0675 at $2.17.  Eight trades were made ranging from $2.17 and $2.24.

Barrels down $0.05 at $1.89. 

Butter down $0.0575 at $2.15.  Three trades were made ranging from $2.15 to $ 2.18.25. 

Nonfat dry milk up $0.0150 at $1.07.  Eight trades were made ranging from $1.0650 to $1.07. 

The Global Dairy Trade auction index in New Zealand traded higher for the first time since July.  The index increased two percent from the last event to $3,303 per ton. Lactose, skim milk powder and butter had the largest gains while rennet casein had the only decline.