Market News
Milk futures lower, cash dairy higher
Milk futures on the Chicago Mercantile Exchangeclosed lower Tuesday while global markets and cash trades were higher.
September Class III milk down eight cents at $16.33. October 56 cents lower at $18.67. November 29 cents lower at $17.36. December down 20 cents at $16.52. January through March contracts eight to 14 cents lower.
Dry whey unchanged at $0.3475.
Blocks unchanged at $2.2150.
Barrels unchanged at $1.60.
Butter up $0.0150 at $1.5050. Forty-seven trades were made ranging from $1.4925 to $1.5125.
Nonfat dry milk up $0.02 at $1.06. Nine trades were made ranging from $1.05 to $1.06.
The Global Dairy Trade auction index in New Zealand had its first positive trading event since the beginning of July. The index increased 3.6 percent to $3,092 per ton. Losses in lactose, -2.7%, and butter, -1.4%, were offset by gains in skim milk powder, +8.4%, cheddar, +7.2%, whole milk powder, +3.2%, and anhydrous milk fat, +2.0%,
