# Cash Cheese Barrels Slip While Butter, Nonfat Dry Milk, Class III Futures, And Global Dairy Trade Index Rally

> On Tuesday, cash cheese barrels traded lower on the CME while blocks held steady. Butter, nonfat dry milk and Class III futures rose alongside a 9.4% jump in the Global Dairy Trade index, which followed Fonterra reducing its product offerings at the auction.

- Date: 2026-11-12 · published 2026-11-12T12:09:05.797Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/95378-cash-cheese-barrels-slip-while-butter-nonfat-dry-milk-class-iii-futures-and
- Commodities: [Dry Whey](https://feedsoft.ai/c/WHEY.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Nonfat Dry Milk](https://feedsoft.ai/c/NFDM.md)

## Why it matters

Reduced Fonterra offerings tighten near-term global dairy supply, supporting powders and butter and firming Class III milk prices, while softer spot cheese reflects ample US production. Feed buyers may see dairy-linked demand for DDGS and whey shift with these moves.

## Read by commodity

- MILK: bullish ▲
- NFDM: bullish ▲
- WHEY: bullish ▲

## Sources

- en.edairynews.com: https://en.edairynews.com/cash-cheese-barrels-slip-while-butter-nonfat-dry-milk-class-iii-futures-and-global-dairy-trade-index-rally/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.