On the Chicago Mercantile Exchange, milk futures were lower Tuesday while cash trade provided little market direction. Class III milk futures were lower on the day. June milk fell 31 cents to $24.16/cwt. July milk dropped 34 cents to $24.34/cwt. Class IV milk prices were green on the day, ranging 21-38 cents higher.
Tuesday’s spot dairy product trade was mixed. Dry whey up $0.01 at $0.4850. Blocks down $0.04 at $2.34. Barrels down $0.0175 at $2.33. Four sales were made from $2.33 to $2.3475. Butter up $0.02 at $2.8850. Eight sales were made from $2.8550 to $2.8675. Nonfat dry milk up $0.0150 at $1.82. Two trades were made at $1.8150 and $1.82.
