On the Chicago Mercantile Exchange milk futures saw a typical turnaround Tuesday trading higher while cash markets were mixed, and global trade news was slightly bearish. Class III milk futures rallied 20-50 cents. May milk climbed 43 cents to $24.42/cwt. June surged 52 cents to $24.35/lb. Class IV milk experienced near-term weakness.
In the CME spot dairy auction, dry whey unchanged at $0.59. Five trades were made from $0.59 to $0.5975. Blocks unchanged at $2.2625. Barrels down $0.0075 at $2.26. Butter up $0.02 at $2.74. Nonfat dry milk down $0.01 at $1.84.
(T6, D1)
