Market News

Milk futures higher, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange continued higher Tuesday while global trade provided little direction.

April Class III milk up a penny at $17.68.  May up 16 cents at $19.32.  June up 20 cents at $19.30.  July 24 cents higher at $19.29.  August through October contracts 35 to 30 cents higher.

Dry whey up $0.0275 at $0.7025. 

Blocks unchanged at $1.80.  Two sales were made at $1.79 and $1.80.

Barrels up $0.0625 at $1.8050.  Eight trades were made at $1.75 to $1.8050.

Butter down $0.0725 at $1.7975.  Twenty-one sales were made from $1.79 to $1.8225.

Nonfat dry milk down $0.0050 at $1.23.  Four trades were made at $1.2275 to $1.2350.

The Global Dairy Trade index in New Zealand saw an incremental decline, down 0.1 percent, Tuesday.  Lactose was down 3.4 percent, followed by anhydrous milk fat, down 3.3 percent.  The only gains were reported in cheddar, up 1.2 percent and whole milk powder, up 0.4 percent.