On the Chicago Mercantile Exchange milk futures were mostly higher Wednesday as long-term outlooks for dairy remain positive. June – December Class III milk showed some slight gains on the day. Up 2-4 cents, the second half average came in at $16.30/ cwt. Nearby months didn’t hold the upward momentum we saw over the last few trading sessions. March finished off 2 cents to $15.06 and April was off 6 cents to finish Thursday at $15.63. Class IV milk saw April finish down 2 cents to $15.85/cwt and May 3 cents higher to $16.11.
Dry whey unchanged at $0.32. Six trades were made ranging from $0.3175 to $0.32. Blocks down $0.0125 at $1.7175. Barrels unchanged at $1.5925. Butter down $0.0050 at $2.26. Nonfat dry milk down $0.0025 at $0.96. Two trades were made at $0.9575 and $0.96.
