On the Chicago Mercantile Exchange milk futures inched higher Wednesday while cash markets sat mostly on the sidelines. Class III milk saw positive moves across 2019 months, April gained 2 cents to $15.97. May gained 7 cents to hit 15.925/cwt and the second half of the year averaged $16.43/cwt.
These followed a terribly quiet day in the CME Spot Dairy Product trade. Weekly EU prices were higher for butter and whole milk powder and lower for whey powder and cheese. Dry whey remained unchanged at $0.3525. Blocks unchanged at $1.6550. Barrels up $0.0025 at $1.5950. Butter unchanged at $2.2575. Nonfat dry milk remained unchanged at $0.9875.
