At the Chicago Mercantile Exchange Milk futures closed mostly lower Wednesday while cash trade was mixed and weekly European dairy prices were reported mostly lower. Early gains in Class III milk reversed after the CME spot products trade began. Class III milk could not sustain the gains of Tuesday. Only February showed a gain of 1 cent to $14.01/cwt. The remaining months down 3-14 cents with March finishing the day at $14.78. Second half is still averaging better, showing a July – December average of $16.21/ cwt.
Dry whey down $0.02 at $0.33. Fifteen trades were made ranging from $0.33 to $0.3450. Blocks up $0.0325 at $1.5925. Two trades were made at $1.58 and $1.59. Barrels up $0.0225 at $1.4350. Seven trades were made ranging from $1.42 to $1.4350. Butter down $0.0175 at $2.2375. Four trades were made ranging from $2.2375 to $2.25. Nonfat dry milk down $0.0075 at $0.9925. Two trades were made at $0.9925 to $0.9950.
