On the Chicago Mercantile Exchange milk futures closed lower again Tuesday on technical selling, while cash markets were mixed. Class III milk markets witnessed double digit losses between August 2019 through March 2020. April 2020 through August 2020 ranged from 3 to 8 cents lower. Class IV markets were also lower. 2019 months were even to 8 cents softer.
The spot product market watched blocks down $0.0050 at $1.82. Three trades were made ranging from $1.82 to $1.8325. Barrels up $0.0025 at $1.7225. Eight trades were made ranging from $1.7225 to $1.74. Butter down $0.0225 at $2.3275. One trade was made at that price. Nonfat dry milk up $0.0025 at $1.0375. Dry whey unchanged at $0.34.
