On the Chicago Mercantile Exchange, milk futures closed lower Tuesday while global markets and cash trades were higher. Class III milk futures tumbled lower. September milk lost 8 cents to $16.33/lb. October milk descended 53 cents to $18.70/cwt. November fell 28 cents to $17.37. December finished 22 cents lower to $16.50/cwt. Class IV futures were mixed. September lost 5 cents to $12.63/cwt. October was up 2 cents to $13.51. November added 15 to $14.08/cwt.
On spot market dry whey unchanged at $0.3475. Blocks unchanged at $2.2150. Barrels unchanged at $1.60. Butter up $0.0150 at $1.5050. Forty-seven trades were made ranging from $1.4925 to $1.5125. Nonfat dry milk up $0.02 at $1.06. Nine trades were made ranging from $1.05 to $1.06.
The grain complex finished the day lower. December corn declined 3.50 cents to $3.66/bushel. November soybeans drifted 8 cents lower to $9.9150/bushel. October soybean meal fell $2.70 to $314.30/ton. December Chicago Wheat settled 7.50 cents lower to $5.3825/bushel. October live cattle gained 22 cents to $107.10/cwt. October feeders increased $1.10 to $143.70/cwt. October crude oil improved $1.06 to $38.32/barrel.
