At the Chicago Mercantile Exchange class III milk futures closed mostly lower Thursday as declining global markets and increasing interest rates weighed on the market. Class III finished at $16.17, while the average for the first half of 2019 dropped 2 cents to $16.02. Class IV markets remained unchanged. September milk closed down three cents at $16.11. October unchanged at $15.95. November two cents lower at $16.37. December down a penny at $16.21. January through next August contracts closed four cents lower to two cents higher.
Dry whey made another new record, up $0.01 at $0.5450.It was butter’s turn in the CME spot trade to move higher and lead the pack in volume, 15 loads move from seller to buyer as prices rose 2 and a quarter cents to finish at $2.32 cents a pound. Barrel cheese rose another quarter cent after eight loads traded to move to $1.40. While block cheese remained again unchanged, did not trade and once more finds itself at $1.66. On trade was made at $0.5425. Grade A nonfat dry milk was unchanged did not trade and again is at 87 and a half cents.
