At the Chicago Mercantile Exchange Class III milk futures traded another day lower after a mostly bearish supply and demand report and lower cash trade. Class III markets were softer on Thursday falling 3 cents in November and 18 cents in December. November closed three cents lower at $14.43. December down 18 cents at $14.48. 2019 markets were also down on the day, losing 3 to 6 cents from January to September. January six cents lower at $14.72. February down six cents at $14.86. March through next October contracts closed unchanged to seven cents lower.
The CME spot markets on Thursday were mainly lower. Butter lost 1 ¾ cents at $2.1925 per pound. Blocks fell 3.5 cents to $1.39 per pound, trading 7 times. Barrels were unchanged in today’s session at $1.305 per pound. With the most volume of the session Grade A nonfat dry milk fell 1.25 cents to 85 ¾ cents, trading 11 times. Dry whey lost ¾ of a cent to 43 ¾ cents.