On the Chicago Mercantile Exchange milk futures closed lower Tuesday following lower trade in cash markets and a selloff in commodities. Class III Milk followed whey lower. June held unchanged at 17.25, July fell 34 to 17.13, and August fell 37 cents to 17.97/cwt. The balance of 2021 was down 8-27 cents. Class IV also slid lower. June down 8 to 16.48, July down 12 to 16.60, and Aug fell 22 cents to 16.90/cwt.
The CME spot trade also saw slight moves lower. Dry whey down $0.0225 at $0.62. One sale was made at $0.60. Blocks unchanged at $1.5050. Barrels down $0.0075 at $1.6575. Butter down $0.0175 at $1.8050. One trade was made at that price. Nonfat dry milk down $0.0275 at $1.28. Eight sales were made from $1.2775 to $1.2850.
The Global Dairy Trade event 286 started the index had its largest decline since March, down 1.3 percent. Butter wasd down 1.7% as was Skim Milk powder. Whole Milk powder also saw a decline of 1.8%, however The cheddar index was slightly higher, up 2/10th of a percent. Lactose rose 4/10 of a percent, and Anhydrous milkfat was up 6/10th of a percent.
