The milk complex overall on Tuesday turned in a mostly stronger session.
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Butter gained 5.5 cents/lb as four loads were exchanged from seller to buyer.  Butter settled at $2.78/lb.  Whey added a penny on a single load trading with the settlement price at $0.78/lb.  Non-fat dry milk prices grew by 3.5 cents to $1.85 with 3 trades.  Barrels lost a half cent on an offer while blocks fell 4 cents to $1.88/lb, 4 transactions took place.

The CME Spot Dairy Auction followed this morning’s Global Dairy Trade (GDT) Event.  The overall index was up a healthy amount and products to note included Skim Milk Powder jumping 5% to $1.80/lb.  Whole Milk Powder did a touch better turning in a $1.85/lb price, up 5.6%.  Cheddar closed at $2.52/lb, +1.1%.  Butter rose 4.9% to $2.79/lb.

Class III milk saw February get hit with a 46-cent daily loss while all others closed in the green.  Milk futures between February and October all begin with a $21 or higher price at Tuesday’s close.  Class IV markets had another solid day of trade adding 10-35 cents/cwt in the February through July 2022 time period.

Grains put together a mixed day as wheat jumped 27 cents in all three markets pulling corn up 3 cents along with it.  Soybeans lost 9 cents while meal was off $15/ton on the spot price.

The ACCC was due to present its final findings on the proposed acquisition on September 14, but eastAUSmilk said it had delayed the report indefinitely, pending receipt of further information from the parties involved (Coles and Saputo).

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