On the Chicago Mercantile Exchange milk futures were lower Tuesday following a slightly bearish supply and demand report while cash trade was mixed. March through July 2020 softened 1 to 8 cents while remaining months in 2020 fared a little better as they closed in the green. The 2nd half of 2020 is offering dairy producers a $17.83 per cwt average at today’s close. Class IV milk markets fell double digits as March to July months traded 13-20 cents lower.
CME spot dairy product markets saw good volumes trade on Tuesday as well as a couple of big moves. Blocks down $0.06 at $1.88. One sale was made at that price. Barrels up $0.0750 at $1.56. Four trades were made at $1.54 and $1.56. Butter up $0.01 at $1.8150. Eleven trades were made ranging from $1.8050 to $1.8150. Nonfat Dry milk down $0.0150 at $1.2250. Twenty-one trades were made ranging from $1.22 to $12275. Dry whey unchanged at $0.3950.
