The Chicago Mercantile Exchange’s milk futures rose on Tuesday, boosted by robust cash markets.
At $15.24, June Class III milks a cent. The July contract is 32 cents higher at $16.29. August gained 30 cents to $17.17. September was 13 cents higher, closing at $17.87. Contracts from October to December are five to thirteen cents higher.
Dry whey gains $0.01 to $0.2750.
Blocks are up $0.03 to $1.46. At that price, one sale was made.
Barrels are up $0.0175 to $1.5675 per barrel. Three deals were executed between $1.5650 and $1.5675.
At $2.3775, butter is down $0.0250. Five deals were placed between $2.3775 and $2.40.
Nonfat dried milk is now $1.1650, up $0.0025. Six transactions were completed at $1.1625 and $1.1650.
The Global Dairy Trade index in New Zealand fell 0.9 percent on Tuesday, continuing its downward trend. Whole milk powder fell 3 percent, followed by butter milk powder, which fell 2.4 percent. Cheddar sales increased 7.4%.
