At the CME on Tuesday the Dairy markets were lower in reaction to USDA’s negative price forecasts for 2017 and 2018. Class III milk futures for December were down $.01 closing at $15.60. January milk was down $.07 at $14.27. February closed down $.07 to $14.33. March was down $.07 at $14.33.
Grade AA Butter closed up $.0175 at $2.2075. Twenty-one carloads of butter were sold on a range of $2.1925 to $2.22.
The cash cheese spread ended Tuesday with a fresh all-time high. Barrels were unchanged at $1.67. Nineteen carloads were sold ranging from $1.66 to $1.67.
