On the Chicago Mercantile Exchange Tuesday brought the recent run-up in milk futures to an end as both futures and cash prices closed mostly lower. October gave back much of its gains, down limit move of 75 cents to $18.99 per cwt. September only fell 5 to $18.29, and November lost 58 cents to $18.15 per cwt. 2020 markets also sharply lower, Jan- March falling 25-34 cents to average at $16.53 per cwt. Class IV milk was weaker as well. September and October were unchanged at $16.33 and $16.48, but November fell 24 cents to $16.55 per cwt.
The cheese market giveth and the cheese market taketh away. Blocks down $0.0675 at $2.17. Eight trades were made ranging from $2.17 and $2.24. Barrels down $0.05 at $1.89. Dry whey unchanged at $0.3975. Butter down $0.0575 at $2.15. Three trades were made ranging from $2.15 to $ 2.18.25. Nonfat dry milk up $0.0150 at $1.07. Eight trades were made ranging from $1.0650 to $1.07.