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Milk futures lower, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange fell Tuesday as traders correct overbought positions and block cheese finally sees negative movement.

July Class III milk unchanged at $24.34.  August down 31 cents at $23.09.  September 48 cents lower at $20.23.  October 36 cents lower at $18.40.  November through January contracts 17 to 19 cents lower.

Dry whey up $0.0025 at $0.32. 

Blocks down $0.01 at $2.99.  Two trades were made at $3.00. 

Barrels up $0.0175 at $2.42. 

Butter up $0.0175 at $1.7450.  Five trades were made at $1.7450 to $1.75.

Nonfat dry milk unchanged at $1.0150.  Two trades were made at $1.0125 and $1.0150. 

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