On the Chicago Mercantile Exchange milk futures took a dive Tuesday pressured by lower cash trade and expectations for bearish USDA reports. Class III slid lower. February was up 3 cents to $15.64, March fell 50 cents to $15.86. Class IV milk was unchanged in February at $13.28 and fell 15 cents in March to $13.92 per cwt.
The CME spot trade had \barrels down $0.03 at $1.3825. One sale was made at that price. Butter down $0.0225 at $1.4875. Six trades were made ranging from $1.4475 to $1.4875. Nonfat dry milk down $0.0075 at $1.09. Two trades were at $1.09 and $1.0950. Dry whey unchanged at $0.5475. Blocks unchanged at $1.57. Two sales were made at $1.57 and $1.5775.
(T1, D1)
