On the Chicago Mercantile Exchange milk futures closed mostly lower Tuesday as global market fears continue with coronavirus outbreaks, albeit at a slower decline than previous sessions. Class III milk saw February gain 11 to $17.03, but the balance of 2020 moved 1-10 cents lower. Our first half average sits at $17.15 per cwt. Class IV milk slid lower – February fell 1 to $16.78 and March fell 10 to $16.65.
The CME spot trade was similarly mixed. Dry whey unchanged at $0.3650. Blocks down $0.0050 at $1.9150. Nine sales were made ranging from $1.9225 to $1.93. Barrels up $0.0150 at $1.47. Seven trades were made ranging from $1.47 to $1.48. Butter down $0.0250 at $1.88. Five trades were made ranging from $1.86 to $1.89. Nonfat dry milk down $0.0150 at $1.2150. Three trades were made at $1.2150 and $1.22.