Market News

CME milk futures up, cash dairy mixed, GDT index up

Milk futures were up and cash dairy prices were mixed on the Chicago Mercantile Exchange Tuesday.  

October Class III milk was up $.01 at $18.60.  November was up $.06 at $18.68. December was up $.09 at $18.04.  January was up $.09 at 17.24. The milk futures from February through next September ranged from zero to ten cents higher.

Dry whey was up $.01 at $.3075 cents per pound.  Nine sales were recorded from $.30 to $.3075.

Forty-pound blocks were down $.0175 at $2.0550 per pound.  Four sales were recorded from $2.0450 to $2.0550.

Barrels were unchanged at $2.0250 per pound.  Six sales were recorded at that price.

Grade AA Butter was up $.01 at $2.12 per pound.  Seventeen sales were recorded from $2.11 to $2.12.

Nonfat dry milk was unchanged at $1.1675 per pound.  No sales were recorded.

The Global Dairy Trade price index rose half a percent in Tuesday’s sale event.  One-hundred-99 bidders were involved in the sale of more than 38-thousand metric tons of products.

Whole milk powder prices were unchanged at $3,133 a metric ton or $1.42 a pound.  Skim milk powder was up 2.4% at $2,743 a ton or $1.24 a pound.  The Cheddar cheese index fell 2.2% to $3,636 a ton or just under $1.65 a pound.  Butter fell four-tenths of a percent to $4,105 a ton or $1.86 a pound.  Anhydrous milk fat rose eight-tenths of a percent to $5,065 a ton or $2.29 per pound.  The casein index rose 3.6% selling for $6,916 a ton or $3.13 a pound.

More than three-quarters of Tuesday’s sales were whole milk powder and skim milk powder.