Market News

GDT index down, CME milk futures fall Tuesday

Tuesday’s Global Dairy Trade index fell half-a-percent, with the average price of dairy products settling at $3,467 a metric ton.  It’s the first overall decline since September 19^th, with three of the last five trading sessions showing significant gains.

One hundred seventy-nine bidders were involved in the sale of more than 36-thousand metric tons of product.

 Whole milk powder accounted for more than half of sales and was up one-tenth of a percent to $3,331 a ton, or $1.51 a pound.  Skim milk powder accounted for nearly a quarter of the sales and was up 1.9% to $3,068 a ton, or $1.39 a pound.

 Anhydrous milk fat fell 5.1% to $4,840 a ton or $2.19 a pound.  Butter also fell 4.9% settling at $3,983 a ton or $1.80 a pound.

The Cheddar cheese index rose 2.7% with sales at $3,797 a ton or $1.72 a pound.  Buttermilk powder rose 1.6% to $2,846 a ton or $1.29 a pound and Casein went up 4.9% to $8,047 a ton or $3.65 a pound with light sales activity.

No whey powder or lactose was offered in Tuesday’s trading session. 

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

December Class III milk was down $.02 at $19.34.  January was down $.07 at $18.92. February was down $.10 at $18.16.  March was down $09 at 17.76. The milk futures from April through next November ranged from two to nine cents lower.

Dry whey was unchanged at $.3550 cents per pound.  No sales were recorded.

Forty-pound blocks were up $.0150 at $1.9475 per pound.  One sale was recorded at that price.

Barrels were up $.0050 at $2.2625 per pound.  Five sales were recorded from $2.2575 to $2.2625.

Grade AA Butter was down $.0275 at $1.9475 per pound.  Three sales were recorded from $1.9425 to $1.9450.

Nonfat dry milk was down $.0125 at $1.25 per pound.  One sale was recorded that price.