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Milk Futures, Cash Dairy Lower

Milk futures on the Chicago Mercantile Exchange were lowered Tuesday following negative global markets and cash trade.

July Class III milk down three cents at $16.66. August down 38 cents at $16.29. September 38 cents lower at $16.88. October down 30 cents at $17.59. November through January contracts nine to 20 cents lower.

Dry whey unchanged at $0.5375.

Blocks down $0.03 at $1.5850.

Barrels down $0.0650 at $1.3850. Seven sales were made from $1.3850 to $1.4050.

Butter unchanged at $1.7125.

Nonfat dry milk down $0.03 at $1.23. Three sales were made at that price.

The Global Dairy Trade index in New Zealand on Tuesday continued its five-month negative streak, down 2.9 percent. Lactose led the categories lower, down 8.9 percent, followed by skim milk powder, down 5.2 percent. Cheddar was the only product to trade higher, up 1.3 percent.

--Brownfield AgNews