On the Chicago Mercantile Exchange milk futures closed mixed for a second day this week as did cash trade while global trade continues to decline. Class III milk markets ended Tuesday on a slightly lower tone. June milk lost a penny while July added 5 cents and the remainder of the year dropped 1-8 cents per cwt. The second half of 2019 settled at $17.20 per cwt. The Class IV market trade finished with July 16 cents lower, September down 9, and October 8 cents softer.
The CME spot product trade had cheese markets 3 cents higher in blocks and 4 higher in barrels. Dry whey down $0.0125 at $0.3425. Ten trades were made ranging from $0.3425 to $0.3525. Barrels up $0.04 at $1.6450. Seven trades were made ranging from $1.6250 to $1.6450. Butter down $0.0150 at $2.3625. Nonfat dry milk down $0.0025 at $1.05