Nonfat Dry Milk Rose as Butter and Whey Fell

Nonfat dry milk finished higher on the CME after active trading on the physical platform. The contract gained $0.0300, ending at $1.8100 per pound. Six spot transactions were recorded, with prices spanning $1.7900 to $1.8100 per pound.

The session’s activity in milk powder came as international demand for the product remained a factor in market trading. Global protein benchmarks had also been firm across major auction platforms, alongside the reported interest in nonfat dry milk.

Butter moved in the opposite direction. Grade AA butter fell $0.0300 and closed at $1.4300 per pound. Six sales were completed in the butter market, at prices between $1.4300 and $1.4625 per pound. The reported transactions took place as spot values eased and domestic supply was described as comfortable.

Cheese trading produced different results across product formats. Forty-pound blocks lost $0.0025, settling at $1.5750 per pound. Two spot sales were reported for the blocks, at $1.5800 and $1.5825 per pound. The barrel market was unchanged: 500-pound cheese barrels ended at $1.5650 per pound, with no trades reported.

Dry whey also recorded a small decline. Its price slipped $0.0025 to $0.6925 per pound on one reported sale. Taken together, the reported session results showed a gain for nonfat dry milk, declines for butter and dry whey, a lower settlement for cheese blocks, and an unchanged price for cheese barrels.