On the Chicago Mercantile Exchange milk futures started the week mixed following the direction of the cash market. We saw April Class III milk rally as much as 30 cents during cheese trading, to settle at 20 cents higher to $15.49. The remainder of the months didn’t do as well. March was up 2 cents to $15.05 and second half saw mixed moves from 1 cent lower to 5 cents higher for an average of 16.22/cwt. Class IV milk was also mixed from 7 cents lower in August to 9 cents higher in June. April Class IV ended the day at 15.84/cwt and May at $15.96.
Dry whey down $0.0025 at $0.3275. Eight trades were made ranging from $0.3275 to $0.33. Blocks up $0.07 at $1.64. Barrels up $0.0050 at $1.57. Fifteen trades were made ranging from $1.5650 to $1.57. Butter up $0.0150 at $2.28. One trade was made at that price. Nonfat dry milk down $0.0025 at $0.9550. Two trades were made at $0.9450 to $0.9525.
