Market News

Milk futures, cash dairy mostly higher

Milk futures on the Chicago Mercantile Exchange started the week mostly higher supported by positive movement in global markets and a lower dollar.

February Class III milk up a penny at $16.18. March 15 cents higher at $16.99. April six cents higher at $17.15. May up 11 cents at $17.58. June through August contracts seven cents lower to four higher.

Dry whey down $0.01 at $0.51. One trade was made at that price.

Blocks up $0.0425 at $1.5225. Two sales were made at $1.52 and $1.5225.

Barrels unchanged at $1.6075. One trade was made at that price.

Butter up $0.0250 at $2.7750. Fifteen trades were made from $2.77 to $2.7750.

Nonfat dry milk up $0.0225 at $1.1925. Two sales were made at $1.18.

The Global Dairy Trade index in New Zealand on Tuesday was up a half of a percent following positive trade seen to start the year. Anhydrous milk fat saw the largest gain, up 8.6 percent, followed by mozzarella, up 5.3 percent. Cheddar sales has the largest decline, down 7.6 percent.

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