In Class III trade at the Chicago Mercantile Exchange, milk futures were mostly lower on spread trade and the lower Global Dairy Trade auction. January was up $.04 at $16.51, February was down $.03 at $16.92, March was $.13 lower at $17.17, and April was down $.12 at $17.36.
Cash cheese blocks were up $.01 at $1.67. There was one load sold at $1.67. The last unfilled bid was on two loads at $1.66. Barrels were down $.005 at $1.595. There were two trades, one at $1.61 and one at $1.60. The last uncovered offer was for one load at $1.595.
Butter was $.0475 lower at $2.22. There was one load sold at $2.22.
Nonfat dry milk held at $1.02. The last unfilled bid was on one load at $1.01.
The Global Dairy Trade auction index dropped 3.9% to $3,463 per ton, the second consecutive losing session. Previously, the index had been up four events in a row. Whole milk powder dropped 7.7% and lactose was 2.9% lower, while butter milk powder was up 4.5%. The next event is Tuesday, January 17th.
Source: Brownfield Ag News
