On the Chicago Mercantile Exchange milk futures were mixed Tuesday as were cash markets, while global trade provided little direction. Class III values took it on the chin during Tuesday’s trading session. June fell back 44 cents to $18.47/cwt while July and August were down 20-28 cents as well. September lost 12 cents and October was down 11. 2022 months ranged from 5 to 17 cents lower also.
Cheese suffered losses in both the barrel and block markets on Tuesday. Blocks down $0.05 at $1.6325. Four trades were made at $1.6325 and $1.6375. Barrels up $0.03 at $1.8525. Sixteen trades were made from $1.6250 to $1.64. Dry whey down $0.0050 at $0.6350. Four sales were made from $0.6350 to $0.6450. Butter down $0.0525 at $1.8225. Nonfat dry milk up $0.0075 at $1.3125. Six trades were made from $1.31 to $1.3150.
GDT Event 284 was released this morning with the overall index losing 0.2%. Butter was down 2.2 percent, followed by declines in whole milk powder and anhydrous milk fat. Lactose was up 1.6 percent along with cheddar and skim milk powder.
