On the Chicago Mercantile Exchange Tuesday global dairy markets dragged down milk futures along with a quiet but lower cash trade. Third quarter Class III futures stumbled to $23.37 per hundredweight, down 34 cents. GDT WMP prices dropped 6.9% to $3,916 per metric ton, or $1.78 per pound. SMP prices fell 6.3% to $4,130 per metric ton, or $1.87 per pound. Spot NDM slid to $1.7100 per pound, giving up four cents, with two loads trading. Spot dry whey paused at $0.5950 per pound, with zero lots changing hands.
In spot trade Butter down $0.0475 at $2.62. Three trades were made from $2.60 to $2.62. Three trades were made from $2.60 to @.62. Nonfat dry milk down $0.04 at $1.71. Two trades were made at that price. Dry whey unchanged at $0.5950. Blocks unchanged at $2.3475. Barrels unchanged at $2.30.
