Milk futures and cash dairy prices were lower, except for cheese barrels, on the Chicago Mercantile Exchange (CME) this Tuesday. Specifically, dry whey remained steady at $0.3850, with two sales recorded at that price. Meanwhile, forty-pound cheese blocks fell $0.05 to $1.93, with fourteen sales ranging from $1.93 to $2.00. Cheese barrels were an exception, climbing $0.0875 to $2.06 with a single recorded sale. Butter decreased $0.0325 to $2.9950, with seventeen sales, ranging from $2.9950 to $3.0075. Nonfat dry milk dipped $0.0025 to $1.1650, with twenty-six sales, ranging from $1.16 to $1.1650.
All Class III milk futures were down on Tuesday:
- June Class III milk fell $0.49 to $20.77.
- July decreased by $0.29 to $19.92.
- August dropped $0.25 to $19.49.
- September was down $0.19 at $19.43.
For the final quarter, changes in contracts ranged from five cents lower in November and December to eighteen cents lower in October.
