Market News

Milk futures, cash dairy lower

Negative global trade and cash markets pulled milk futures on the Chicago Mercantile Exchange lower Tuesday.

April Class III milk was down four cents at $24.26. May 75 cents lower at $24.28. June down 67 cents at $24.58. July 56 cents lower at $24.30. August through to October 18 to 25 cents lower.

Dry whey down $0.0050 at $0.6350. Three sales were made at $0.6350 and $0.64.

Blocks down $0.0375 at $2.36. One sale was made at that price.

Barrels down $0.02 at $2.3950. Four trades were made at $2.3925 and $2.3950.

Butter down $0.0225 at $2.7175. Eight trades were made from $2.7125 to $2.7250.

Nonfat dry milk down $0.0250 at $1.7975. Three trades were made from $1.7925 to $1.7975.

The Global Dairy Trade index in New Zealand on Tuesday was again lower, down 3.6 percent. Declines were seen in all categories with whole milk powder, down 4.4 percent, and skim milk powder, down 4.2 percent, leading the way.