On the Chicago Mercantile Exchange Milk futures closed significantly higher Thursday as traders got to business in the futures and cash markets. May Class III was our market leader gaining as many as 47 cents during trading to settle 45 cents higher at 16.29/cwt. April gained 7 cents to 15.98 and June gained 32 cents to $16.37. Second half months moved 8-20 cents higher to finish with an average of 16.72/cwt. Class IV milk was more mixed May up 3 cent to 16.30/cwt and June down 4 cents to 16.63.
Dry whey unchanged at $0.33. Four trades were made ranging from $0.3275 to $0.33. Blocks up $0.02 at $1.69. Twelve trades were made ranging from $1.68 to $1.69. Barrels up $0.03 at $1.63. Eleven trades were made ranging from $1.61 to $1.63. Butter up $0.0050 at $2.26. Seven trades were made ranging from $2.2550 to $2.26. Nonfat dry milk up $0.01 at $1.03. One trade was made at that price.
