On the Chicago Mercantile Exchange milk futures reversed lower Tuesday as traders corrected overbought positions and cash markets were mixed. October Class III milk down a penny at $21.62. November 39 cents lower at $22.37. December down 76 cents at $20.23. January 44 cents lower at $18.15. February through April contracts 11 to 16 cents lower.
On the spot market dry whey up $0.0050 at $0.3950. Blocks unchanged at $2.7725. Barrels down $0.0025 at $2.4525. Butter up $0.0325 at $1.4075. Six trades were made ranging from $1.4075 to $1.4375. Nonfat dry milk down $0.0150 at $1.0775. Six trades were made ranging from $1.0725 to $1.0825.
