Market News

Milk futures higher, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange closed higher Tuesday as traders bought back oversold positions after markets reacted negatively Monday to coronavirus fears.

January Class III milk unchanged at $17.04.  February up six cents at $17.39.  March five cents higher at $17.73.  April up seven cents at $17.59.  May through August contracts three cents lower to seven higher.

Dry whey up $0.01 at $0.3750.  One sale was made at $0.3650.

Blocks down $0.0125 at $1.92. 

Barrels down $0.02 at $1.59.  One trade was made at that price.

Butter down $0.0450 at $1.7750.  Five trades were made ranging from $1.7750 to and $1.7825.

Nonfat dry milk down $0.0050 at $1.2750.  Eight trades were made ranging from $1.2725 to $1.2775.