Product and Class III Markets Higher on Tuesday
The CME spot markets were mainly higher on Tuesday. Blocks were up 2 1/4 cents at $1.37 1/4 per pound and barrels were up 3 3/4 cents per pound to $1.35. Grade A nonfat dry milk rose a 1/4 cent at 86 1/4 cents.
The only two products showing losses on Tuesday were butter and dried whey. Butter fell 2 1/2 cents at $2.20 per pound. Dried whey fell 1/2 cent at 42 1/2 cents per pound.
Class III markets also saw gains on Tuesday. November rose 2 cents at $14.53, while December Rose 15 cents at $14.81. 2019 Class III markets rose anywhere from 5 to 16 cents with the most moving in the first quarter. The 2019 first quarter average is now at $15.16.
The grain markets saw losses on Tuesday. December corn settled down 4 3/4 cents at $3.66 1/2. The November soybean contract expires on the 14th and was down 4 1/2 cents today at $8.67 1/4.