Market News

CME milk futures lower, cash dairy mostly higher Tuesday

Milk futures were all lower and the cash dairy markets were mostly higher Tuesday on the Chicago Mercantile Exchange.  The butter market had the biggest price jump.

April Class III milk was down $0.07 at $15.47.  May was down $0.17 at $15.69.  June was down $0.22 at $16.38.  July was down $0.15 at $17.16.  

August through February contracts ranged from five cents lower in October to seventeen cents lower in August.  Tuesday’s Class III trade volume was higher with 2,520 contracts. 

Dry whey was down $0.0150 at $0.39.  One sale was recorded at $0.3975. 

Forty-pound cheese blocks were up $0.0075 at $1.4450.  Nine sales were recorded, ranging from $1.44 to $1.45. 

Cheese barrels were up $0.0175 at $1.4525.  Six sales were recorded, ranging from $1.4525 to $1.4575. 

Butter was up $0.07 at $2.92.  Ten sales were recorded, ranging from $2.9050 to $2.9350. 

Nonfat dry milk was up $0.01 at $1.13.   Three sales were recorded, ranging from $1.12 to $1.13.