On the Chicago Mercantile Exchange, milk futures closed lower Tuesday pressured by a mostly lower cash trade and growing supplies. February- June averaged in at $14.60/cwt and July – December at $16.18. Down 1-14 cents. February Class III milk down a penny at $13.93. March down three cents at $14.20. April down three cents at $14.48. May down a nickel at $15.00. June through October contracts was seven to 10 cents lower. Class IV milk had limited trades to hold steady. It still trades higher than Class III with a first-half average of $16.18/cwt and Second half at $16.72. For Commodity Risk Management Group, this is Jenny Wackershauser on Know your markets.
Dry whey up $0.0175 at $0.3775. Nine trades were made ranging from $0.38 to $0.39. Blocks down $0.03 at $1.4575. Barrels down $0.0050 at $1.2925. Four trades were made ranging from $1.2925 to $1.2975. Butter down $0.0050 at $2.2775. Nine trades were made ranging $2.2650 to $2.2775. Nonfat dry milk down $0.01 at $0.98. Six trades were made ranging from $0.98 to $0.9925.
