At the Chicago Mercantile Exchange Monday, Class III milk futures closed lower to take back Friday’s gains. August milk fell 2 cents to $15. 02 per cwt. while September through December dropped 11-17 cents. The September through December average now stands at $16.14. per cwt.
Product markets during the CME’s spot session had a positive outcome. Barrels traded 17 loads and 2 and ¾ cents higher to $1.64 and ¾ cents per lb. The block price grew by ¼ cent despite just one trade to $1.66 per lb. The block to barrel spread now stands at 1 and ¼ cents.