At the Chicago Mercantile Exchange Class III milk futures continued to slide Tuesday on dismal trade reports and limited cash movement. November closed 18 cents lower at $14.52. December down 22 cents at $14.83. January 20 cents lower at $14.20. February down 18 cents $15.02. March through next October contracts closed three to 11 cents lower.
The only bright spot was skim milk powder (SMP), up 1.2% to 91¢/lb. Cheddar cheese declined 4.6% to $1.47/lb. Whole milk powder (WMP) was off 2.9% to $1.20/lb, and butter dropped 1.7% to $1.84/lb.
