Milk futures lower, cash dairy mixed Tuesday
Milk futures on the Chicago Mercantile Exchange reversed lower Tuesday as traders corrected overbought positions and cash markets were mixed.
October Class III milk down a penny at $21.62. November 39 cents lower at $22.37. December down 76 cents at $20.23. January 44 cents lower at $18.15. February through April contracts 11 to 16 cents lower.
Dry whey up $0.0050 at $0.3950.
Blocks unchanged at $2.7725.
Barrels down $0.0025 at $2.4525.
Butter up $0.0325 at $1.4075. Six trades were made ranging from $1.4075 to $1.4375.
Nonfat dry milk down $0.0150 at $1.0775. Six trades were made ranging from $1.0725 to $1.0825.