CME Milk Futures Experience Decline, Cash Dairy Markets Display Mixed Trends on Tuesday
Source: The DairyNews
Milk futures witnessed a downturn, while the cash dairy markets showed mixed results on Tuesday at the Chicago Mercantile Exchange.
February Class III milk dipped by $0.09 to $16.26.
March experienced a decline of $0.32, settling at $17.45.
April saw a decrease of $0.28, closing at $17.73.
May reported a drop of $0.20, settling at $17.95.
Contracts for June through December displayed varying trends, with June observing an eleven-cent decrease and October marking a twelve-cent increase. The estimated trade volume for Friday stood at just over 2600 contracts.
In the dry whey market, there was a decline of $0.0075, reaching $0.50, with one sale recorded at this price.
Forty-pound cheese blocks experienced a decrease of $0.0350, settling at $1.6150, and one sale was recorded at $1.6525.
Cheese barrels also saw a decline of $0.0150, closing at $1.5750. Two sales were recorded at $1.5825 and $1.5925.
Butter prices increased by $0.0250, reaching $2.77. Eight sales were recorded, ranging from $2.7450 to $2.78.
Nonfat dry milk witnessed an uptick of $0.0150, closing at $1.24. Six sales were recorded, ranging from $1.23 to $1.24.
March experienced a decline of $0.32, settling at $17.45.
April saw a decrease of $0.28, closing at $17.73.
May reported a drop of $0.20, settling at $17.95.
Contracts for June through December displayed varying trends, with June observing an eleven-cent decrease and October marking a twelve-cent increase. The estimated trade volume for Friday stood at just over 2600 contracts.
In the dry whey market, there was a decline of $0.0075, reaching $0.50, with one sale recorded at this price.
Forty-pound cheese blocks experienced a decrease of $0.0350, settling at $1.6150, and one sale was recorded at $1.6525.
Cheese barrels also saw a decline of $0.0150, closing at $1.5750. Two sales were recorded at $1.5825 and $1.5925.
Butter prices increased by $0.0250, reaching $2.77. Eight sales were recorded, ranging from $2.7450 to $2.78.
Nonfat dry milk witnessed an uptick of $0.0150, closing at $1.24. Six sales were recorded, ranging from $1.23 to $1.24.
