Market News

CME milk futures down, cash dairy mixed, GDT index down Tuesday

Milk futures were mostly down and cash dairy prices were mixed at the Chicago Mercantile Exchange Tuesday.

September Class Three milk was up $.01 to $16.13.  October was down $.05 to $16.06. November was down $.07 at $16.18.  December was down $.10 to $15.94. The milk futures from January through next August ranged from one to six cents lower.

Dry whey was up $.0025  at $.5250 cents per pound.  One trade was recorded at that price.

Barrels were down $.0125 at $1.4075 per pound.  Ten carloads sold at from $1.4125 to $1.43.75.

 Forty-pound blocks were up $.01 at $1.6150 per pound.  One carload traded at that price.

The Global Dairy Trade index fell 1.3% during Tuesday’s trading event (Event #220) with the average price at $2,934 per ton.

Most of the product offered was whole milk powder, which was down 1.8% at $2,768 per ton or $1.2555 per pound.  Skim milk powder was down 1.1% at $1,980 per ton or $0.8981 per pound.  Those two items accounted for more than three-quarters of the trading activity.

The Cheddar cheese index was down 3.5% at $3,503 per ton or $1.5889 per pound.  Anhydrous milk fat fell 0.6% to $5,294 per ton or $2.4013 per pound.  Butter fell 0.1% to $4,270 per ton or $1.9368 per pound.

The only product making a gain in Tuesday’s event was rennet casein, which went up 1.7% settling at $5,421 a ton, or $2.4589 per pound.