On the Chicago Mercantile Exchange milk futures where lower Tuesday pressured by declining global markets and flat cash trade. Class III milk was softer across the board Tuesday. June to September fell 11-16 cents while the 4th quarter lost 7-9 cents per cwt. The 2nd half of 2019 closed with an average price of $16.82. January through April declined 1-3 cents as well. Class IV dropped 2-7 cents June through September while the 4th quarter was unchanged. The 2nd half average Class IV settled with an average of $17.26 per cwt.
CME spot product markets were highlighted by the barrel market while not much happened in the other product markets. Barrels down $0.03 at $1.4850. Eight trades were made ranging from $1.49 to $1.5125. Dry whey unchanged at $0.3525. Blocks unchanged at $1.72. One trade was made at that price. Butter unchanged at $2.35. Nonfat dry milk unchanged at $1.0525. Five trades were made ranging from $1.05 to $1.0525.
