At the Chicago Mercantile Exchange Class III milk futures closed lower Thursday somewhat pressed by a lack of movement on the USMCA and mixed tone of international markets. December down a dime at $13.78. Class III markets moved lower with the first half of 2019’s average slipping below $15 to a price of $14.95 down 13 cents from Wednesday. January 19 cents lower at $14.01. February down 14 cents at $14.47. March down 12 cents at $14.85. April through next November contracts closed five to 12 cents lower. Class IV markets in that same period dropped eight cents to $15.31.
Growing weakness in barrel cheddar translated to a four cent loss in Thursday’s CME spot session where two loads traded hands and the final price stopped at $1.2425. Blocks were unchanged at $1.35. Two trades were made at $1.2650 and $1.28. Dry whey closed down $0.0075 at $0.4375. Five trades were made ranging from $0.4375 to $4425. Butter was up $0.0225 at $2.25. Four trades were made ranging from $2.2275 to $2.25. Weakness was observed elsewhere. In Grade A nonfat dry milk prices dropped 1.75 cents after two loads moved from seller to buyer, it’s final price 89.25 cent.