meta Cheese Trade Causes Milk Futures to Crash in Chicago Tuesday :: The Bullvine - The Dairy Information You Want To Know When You Need It

Cheese Trade Causes Milk Futures to Crash in Chicago Tuesday


On the Chicago Mercantile Exchange milk futures opened the week in lower trade pressured by declining cheese trade. May milk fell 4 cents to $18.84/cwt.  June plummeted 42 cents to $18.94.  July lost 25 cents to $19.39/cwt.  Class IV months were down with the weakness in spot butter. 

On the CME Spot Dairy Auction blocks down $0.0425 at $1.6825. Four trades were made at that price. Barrels down $0.03 at $1.70. Two trades were made at that price. Butter down $0.0525 at $1.8225. Eight sales were made from $1.8225 to $1.8425. Dry whey unchanged at $0.64. Nonfat dry milk up $0.0050 at $1.3050.

December corn was down 5.50 cents to $5.3725/bushel.  November soybeans fell 3.75 cents to $13.97/bushel.  July soybean meal declined $3.60 to $414.90/ton.  September Chicago Wheat lost 7 cents to $6.9950/bushel.


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