At the Chicago Mercantile Exchange class III milk futures closed mostly higher Tuesday supported by an active cash session. The Class III price average for the balance of the year advanced another 3 cents to $16.63.
The global dairy trade did its best to derail the positive tone that has defined markets in the past couple of weeks. The index of products covering the GDT auction fell seven-tenths of a percent but this did little to sway the CME spot trade where blocks rose a penny to $1.70 and a half. That stands as the single highest price witnessed since November 2017. Barrel cheese fell half a cent to $1.64 but in robust volume, 23 loads moved from seller to buyer.
