On the Chicago Mercantile Exchange milk futures closed lower at midweek ahead of a slightly bullish dairy products report as traders bought back oversold positions. Class III milk nearby rose early, and fell after the products trade. To finish the day down 5 cent in April to $15.80 and down 3 cents in May to $15.67. Class IV fell in the nearby months and gained 2-10 cents during the second half. May Class IV ended at $16.11 and June at 16.41.
Dry whey up $0.0125 at $0.3450. Four trades were made ranging from $0.3350 to $0.3450. Blocks up $0.01 at $1.66. Three trades were made ranging from $1.6475 to $1.66. Barrels down $0.02 at $1.57. Seven trades were made ranging from $1.57 to $1.5750. Butter up $0.0025 at $2.2525. Nonfat dry milk unchanged at $0.9750.
