Market News

Milk futures, cash dairy mostly higher

Milk futures on the Chicago Mercantile Exchange started the holiday-shortened week to the higher side Tuesday supported by improving global trade, while most cash markets came to a standstill.

February Class III milk a penny higher at $15.64.  March up 14 cents at $16.70.  April up 12 cents at $17.26.  May a dime higher at $17.50.  June through August contracts four to nine cents higher.

Dry whey unchanged at $0.5425. 

Blocks unchanged at $1.5575. 

Barrels unchanged at $1.49. 

Butter up $0.06 at $1.4550.  Two trades were made at that price.

Nonfat dry milk up $0.0025 at $1.1150.  Four trades were made ranging from $1.11 to $1.1175. 

The Global Dairy Trade index in New Zealand increased three percent Tuesday continuing its positive trend and gaining in value.  Support was seen in almost all categories with whole milk powder, up 4.3 percent, cheddar, up 2.4 percent, and butter, up 2 percent, posting the largest increases.