Market News

Milk futures, cash dairy higher

Milk futures on the Chicago Mercantile Exchange continued its trend higher along with cash markets despite negative global trade. 

May Class III milk was up three cents at $25.02.  June 18 cents higher at $24.59.  July up 19 cents at $24.44.  August 19 cents higher at $24.09.  September through November 15 to 20 cents higher. 

Dry whey up $0.0125 at $0.4975.  Two sales were made at $0.4925 and $0.4950.   

Blocks up $0.0050 at $2.37.   

Barrels up $0.0325 at $2.45.  Four trades were made from $2.42 to $2.45.   

Butter up $0.03 at $2.77.  Six sales were made from $2.7375 to $2.77.   

Nonfat dry milk up $0.01 at $1.7450. Three trades were made at $1.7450 and $1.7475.   

The Global Dairy Trade index in New Zealand on Tuesday continued its decline for another event, down 2.9 percent.  The largest losses were seen in whole milk powder, down 4.9 percent, and butter, down one percent, while anhydrous milk fat was up 0.6 percent.