On the Chicago Mercantile Exchange milk futures saw some major sell-offs Tuesday as traders corrected oversold positions and reacted to the run-up in grains following the monthly supply and demand report. January Class III milk down 16 cents at $16.39. February down 75 cents at $18.68. March 73 cents lower at $18.32. April down 52 cents at $17.93. May through July contracts seven to 38 cents lower.
On spot trade dry whey unchanged at $0.50. One sale was made at that price. Blocks down $0.0050 at $1.9575. Barrels down $0.0025 at $1.65. Butter unchanged at $1.31. Nonfat dry milk unchanged at $1.1850. Two sales were made at $1.18 and $1.1850.
(T1, D1)
