At the Chicago Mercantile Exchange Class III milk futures again continued lower Wednesday following the elections and lower cash trade. November closed six cents lower at $14.46. December down 17 cents at $14.66. The 2019 Class III prices also fell 5 to 12 cents across the board. January 12 cents lower at $14.78. February down a dime at $14.92. March through next October contracts closed four to eight cents lower. Class IV prices fell 10 cents for both November and December of 2018. The 2019 Class IV prices loosed 3-9 cents in January to March while the remaining of 2019 realized gains of 8 to 17 cents.
The CME spot market continued to soften as well. Butter fell 3 cents after 5 trades to $2.21 per lb. Blocks fell 3 and ¼ cents at $1.42 and 1.2 cents per lb., also trading 5 times. Barrels also lost 3 cents at $1.30 and ½ cents per lb., only trading 3 times. Grade A nonfat dry milk only traded 1 time loosing 1 and ½ cents at 87 cents. Dry whey was the only product that didn’t trade, leaving it unchanged at 44 and ½ cents.
