On the Chicago Mercantile Exchange milk futures were lowered Tuesday following negative global markets and cash trade. Class III milk futures moved lower with barrel cheese down 6.50 cents to $1.38/lb. July milk lost 3 to $16.66/cwt. The rest of the year saw larger decreases, dropping 18-42 cents. Class IV milk futures also bled 3-25 cents lower on the heels of Nonfat Milk moving lower.
On spot markets dry whey unchanged at $0.5375. Blocks down $0.03 at $1.5850. Barrels down $0.0650 at $1.3850. Seven sales were made from $1.3850 to $1.4050. Butter unchanged at $1.7125. Nonfat dry milk down $0.03 at $1.23. Three sales were made at that price.
(T3, D1)
