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Milk Futures Continue Higher in Chicago Thursday


On the Chicago Mercantile Exchange milk futures continued their rally again Thursday breaking the $19 mark after a supportive supply and demand report. Class III milk markets had an amazing day with October milk closing limit up 75 cents at $19.16/cwt. November followed closely behind adding 50 cents and December was also up 37 cents. First quarter 2020 markets lept 23 to 38 cents per cwt and second quarter closed 17 to 22 cents higher. Class IV markets harnessed the strength in Class III and grew 13 to 22 cents in the fourth quarter of 2019 and first quarter of 2020.

Dry whey up $0.0075 at $0.3975. One trade was made at that price. Blocks up $0.0525 at $2.1450 One trade was made at that price. Barrels up $0.06 at $1.88. Two trades were made at $1.8750 and $1.88. Butter down $0.0075 at $2.2275. Seven trades were made ranging from $2.2225 to $2.24. Nonfat dry milk up $0.0125 at $1.0550. One trade was made at that price.


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