Despite a stronger dollar and a sluggish cash trade, milk futures on the Chicago Mercantile Exchange rose on Tuesday. March Class III milk increased by two cents to $16.46, with contracts from April to September also seeing gains. However, the Global Dairy Trade index in New Zealand experienced its second negative event of the year, dropping by 2.8 percent, with skim milk powder suffering the most significant decline.
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Milk futures on the Chicago Mercantile Exchange were higher Tuesday despite lackluster cash trade and a higher dollar. March Class III milk up two cents at $16.46. April 13 cents higher at $16.29. May 21 cents higher at $16.70. June up 23 cents at $17.46. July through September contracts 27 to 29 cents higher. Dry whey unchanged at $0.43. Blocks unchanged at $1.45. Barrels unchanged at $1.50. Butter unchanged at $2.82. Four trades were made from $2.82 to $2.83. Nonfat dry milk down $0.02 at $1.1250. Three trades were made from $1.1250 to $1.1350. The Global Dairy Trade index in New Zealand on Tuesday had the ...
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