Market News

Milk futures lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange continued its sell-off Tuesday with mixed cash trade.

September Class III milk was down a penny at $18.36. October 26 cents lower at $17.54. November down 37 cents at $17.65. December 23 cents lower at $17.90. January through March contracts 11 to 20 cents lower.

Dry whey down $0.0075 at $0.2825. Three sales were made at $0.2825 and $0.2850.

Blocks unchanged at $1.88.

Barrels down $0.06 at $1.66. Eights trades were made from $1.65 to $1.68.

Butter up $0.06 at $2.83. Three sales were made from $2.78 to $2.83.

Nonfat dry milk up $0.0075 at $1.12.

The Global Dairy Trade index in New Zealand on Tuesday continued its positive streak for the second event in a row, up 4.6 percent. Skim Whole milk powder, up 5.4 percent, and anhydrous milk fat, up 5.3 percent, led product trade higher. Cheddar sales had the only reported decline, down 1.7 percent.