At the Chicago Mercantile Exchange milk futures were higher Tuesday with a mostly supportive cash market. New Zealand December exports were reported mostly higher but saw large declines in butter and skim milk powder. January class III milk futures unchanged at $13.98. Milk prices added 7 cents in February, 15 cents in March and 9 in April. May through September contracts were three to six cents higher. Class IV markets ranged from a penny lower to 6 cents higher. Product market results had barrels jumping 5 and a ¼ cents to $1.26 and ¼ following 2 trades and four bids.
Dry whey unchanged at $0.4050. Blocks up $0.0475 at $1.4450. Three trades were made ranging from $1.40 to $1.43. Barrels up $0.0525 at $1.2625. Two trades were made at $1.2375 and $1.24. Butter up $0.0250 at $2.2850. Two trades were made at $2.2775 and $2.28. Nonfat dry milk down $0.0025 at $1.0175.
