On the Chicago Mercantile Exchange Milk futures closed Tuesday lower with a weekend holiday haze over the markets while cash prices remained mixed. Class III milk fell sharply losing 23 cents in June to $16.08 and 12 in July to 16.40. May continues to hold unchanged at $16.38 as we wind down the month of trading. Second half months saw losses of 5-12 cents and finished with an average at $16.70, 30 cents off our peak average of $17 we witnessed last week.
Dry whey down $0.0075 at $0.3525. Two trades were made at $0.3535 and $0.36. Blocks unchanged at $1.6825. Barrels down $0.0375 at $1.5425. Nine trades were made ranging from $1.54 to $1.58. Butter up $0.02 at $2.4075. Two trades were made at $2.4050 and $2.4075. Nonfat dry milk unchanged at $1.0450. Four trades were made at that price.
