On the Chicago Mercantile Exchange milk futures closed lower Tuesday following a bearish supply and demand report. February Class III milk down 13 cents $15.48. March down 23 cents at $16.31. April down 36 cents at $16.76. May down eight cents at $17.15. June through August contracts five to seven cents lower.
In spot trade, dry whey up $0.0050 at $0.54. Two sales were made at that price. Blocks down $0.0375 at $1.6275. Four sales were made ranging from $1.6225 to $1.6275. Barrels unchanged at $1.50. Nine sales were made at that price. Butter up $0.0075 at $1.2875. Nonfat dry milk up $0.0050 at $1.13. Four trades were made at that price at $1.1275 and $1.13.
(T2, D1)
