At the Chicago Mercantile Exchange Class III milk futures closed mostly lower Tuesday following a mostly lower tone of the cash market. October closed a penny higher at $15.54. November dropped 10 cents and December was down 8 cents. 2019 prices ranged from 4-8 cents lower in the first half and 1-6 cents softer in the second half. November a dime lower at $14.77. December down eight cents at $15.05. January eight cents lower at $15.00. February through next September contracts closed one to eight cents lower. Class IV had November through January even on the day, March up 6 cents, April 4 cents and May-November was down 5 cents.
CME spot product markets were once again highlighted by the results in the dry whey market. Whey traded 9 times and fell 1 and ¾ cents to 45 and ¼ cents per lb. Grade A nonfat dry milk was unchanged at 86 and ¾ cents despite a very active session. Twelve loads moved while 8 bids and offers were left uncovered. Butter was also unchanged at $2.22 and a half cents per lb. Neither cheddar blocks or barrels traded Tuesday. Blocks set back a quarter cent and $1.51 and ¼ cents and barrels gained 1 and ½ cents to $1.24 and ¾ cents following a single bid.
