At the Chicago Mercantile Exchange Class III milk futures closed mixed Tuesday. Class III milk saw little change as results ranged from 4 cents higher to 4 cents lower. January milk down two cents at $14.05. February four higher at $14.34. March unchanged at $14.93. April milk steady at $15.40. May through August contracts a penny lower to two cents higher Tuesday. Class IV was also mixed as months finished as high as 7 cents and as low as 7. CME product markets watched cheese prices dropped 2 cents in the barrel and a half cent in the block market, respectively. Grade A nonfat dry milk added a quarter cent a dry whey was up a half cent. Butter closed unchanged.
CME product markets watched cheese prices dropped 2 cents in the barrel and a half cent in the block market, respectively. Grade A nonfat dry milk added a quarter cent a dry whey was up a half cent. Butter closed unchanged.
Event 228 of the Global Dairy Trade took place Tuesday as the overall index jumped 4.2%. Products to note moving higher included butter up 4.6%, cheddar 4.2%, skim milk powder strengthening 10.3% and whole milk power jumping 3%. Butter ended up at $1.88 and a half, cheddar at $1.59, skim milk powder at $1.09 and whole milk at $1.26, respectively.
