Market News

Milk futures lower, cash dairy trade mixed

Milk futures on the Chicago Mercantile Exchange turned higher Wednesday supported by global trade while cash markets remained mixed.

September Class III milk down a penny at $16.60. October up 32 cents at $17.42. November 29 cents higher at $17.15. December up 13 cents at $17.30. January through March contracts 11 to 14 cents higher.

Dry whey up $0.0150 at $0.55. Three sales were made from $0.54 to $0.55.

Blocks up $0.0250 at $1.75. Three sales were made from $1.7350 to $1.75.

Barrels unchanged at $1.60. Nine sales were made from $1.60 to $1.61.

Butter down $0.0225 at $1.75. Fourteen trades were made from $1.75 to $1.78.

Nonfat dry milk unchanged at $1.35. Seven trades were made at $1.35 to $1.3525.

The Global Dairy Trade index in New Zealand on Tuesday posted another gain for the third straight event, up one percent. Whole milk powder led the categories higher, up 2.1 percent, followed by lactose, up 1.3 percent. Butter and cheddar trades were down for the week.