On the Chicago Mercantile Exchange milk futures ended modestly lower Monday, scaling back on gains seen last week. May dropped 11 cents while June was down 2 cents and July down a penny. August through December ranged from 2 cents lower to 5 cents higher. The second half Class III average at the close now stands at $16.76 per cwt. Class IV changes were mainly non-existent. The 4thquarter watched as 1-4 cents came out of it. The second half Class IV average now stands at $17.22 per cwt.
Dry whey up $0.0125 at $0.34. Four trades were made ranging from $0.3275 to $0.3375. Blocks down $0.0125 at $1.6725. One trade was made at $1.6750. Barrels remained unchanged at $1.63. Five trades were made at that price. Butter up $0.01 at $2.28. Six trades were made ranging from $2.2675 to $2.28. Nonfat dry milk unchanged at $1.04.