Market News

CME cash dairy prices lower

Cash dairy prices moved lower on Tuesday on the Chicago Mercantile Exchange, pressured by declining global markets.

Dry whey unchanged at $0.6875.

Blocks down $0.0050 at $1.47. One sale was made at that price.

Barrels unchanged at $1.42.

Butter down $0.0250 at $1.60.

Nonfat dry milk down $0.0750 at $1.67. Eight sales were made from $1.67 to $1.71.

The Global Dairy Trade index in New Zealand on Tuesday dropped for the second event in a row, down 2.8%. Mozzarella sales were down 5%, followed by skim milk powder (-3.6%) and cheddar (-3.4%). Lactose was the only category to make gains during the auction, up 4.2%.