Market News

Milk futures, cash dairy lower

Milk futures on the Chicago Mercantile Exchange saw some major sell-offs Tuesday as traders corrected oversold positions and reacted to the run-up in grains following the monthly supply and demand report.

January Class III milk down 16 cents at $16.39.  February down 75 cents at $18.68.  March 73 cents lower at $18.32.  April down 52 cents at $17.93.  May through July contracts seven to 38 cents lower.

Dry whey unchanged at $0.50.  One sale was made at that price. 

Blocks down $0.0050 at $1.9575. 

Barrels down $0.0025 at $1.65.

Butter unchanged at $1.31. 

Nonfat dry milk unchanged at $1.1850.  Two sales were made at $1.18 and $1.1850.