At the Chicago Mercantile Exchange class III milk futures continued to slide Tuesday pressured by increasing milk production and Event 224 of the Global Dairy Trade. November closed eight cents lower at $14.47. December down 20 cents at $14.46. 2019 Class III markets also fell 1 to 25 cents from January to November leaving the first half average at $15.15 and the second half average at $16.28. January 25 cents lower at $14.56. February down 23 cents at $14.76. March through next October contracts closed 17 cents to a penny lower.
The CME spot market was also lower on Tuesday. Butter fell 2 3/4 cents to $2.30 1/4 per pound. Blocks fell 7 cents at $1.34 cents per pound. Barrels fell 4 3/4 cents to $1.25 per pound. Grade A nonfat dry milk rose 1/4 cent to 88 3/4 cents. And lastly dried whey fell 1 cent to 42 cents.
