On the Chicago Mercantile Exchange milk futures continue to trade narrowly mixed ahead of this week’s prospective plantings and stocks reports while cash markets are quietly higher. Class III milk futures had very little change on Tuesday as well as low trading volumes once again. April paced the market moving 161 contracts between sellers and buyers with settlements ranging from 5 cents higher to five cents lower in 2021. Class IV values performed a little better strengthening 4 to 22 cents.
Neutral to stronger spot dairy product results were witnessed in the Tuesday trade led by butter. Butter up $0.03 at $1.8225. Three trades were made ranging from $1.8150 to $1.82. Nonfat dry milk up $0.0050 at $1.18. Dry whey up $0.0025 at $0.63. One sale was made at that price. Blocks unchanged at $1.7475. Barrels unchanged at $1.48.
