On the Chicago Mercantile Exchange milk futures fell Thursday after traders corrected overbought positions while cash trade was mixed. Class IV milk jumped higher to print $18 for fall. May finished the day up 12 to 16.21, June up 16 cents at 17.00, and July up 33 cents to 17.45/cwt. Class III gave back some of yesterday’s impressive gains. May fell 4 cents to 19.03, June down 2 to 19.62, and July fell 20 cents to 19.88/cwt.
The CME spot market saw dry whey up $0.0050 at $0.6350. One trade was made at that price. Blocks down $0.0250 at $1.7875. Fourteen trades were made from $1.78675 to $1.7950. Barrels up $0.0250 at $1.78. Three trades were made at $1.77 and $1.78. Butter up $0.0150 at $1.8650. Nonfat dry milk up $0.0025 at $1.31. Four trades were made from $1.31 to $1.32.