Milk futures on the Chicago Mercantile Exchange started the week higher while cash trade was mixed. The Class 3 markets started off the week moving higher for the 3rd consecutive session trading anywhere from 5 to 20 cents higher across the board with most gains in the front months. Nearing expiration, the February contract was unchanged to finish at 13.95, March gained 17 cents to 15.07 and April rose 11 cents to 14.91. Including January, the first half and second half average is now at 14.78 and 16.31. February Class III milk unchanged at $13.95. March up 17 cents at $15.07. April up 11 cents at $14.91. May up a dime at $15.18. June through October contracts were five to 10 cents higher. Class 4 markets were fairly quiet on Monday as March was the only contract traded and lost 4 cents to 15.88. The rest of the months were unchanged.
Dry whey down $0.0050 at $0.3425. Seven trades were made ranging from $0.3425 to $0.3450. Blocks down $0.0025 at $1.5975. Barrels up $0.0050 at $1.41. Nine trades were made ranging from $1.4025 to $1.41. Butter up $0.0075 at $2.2675. Nonfat dry milk down $0.01 at $0.9875. Five trades were made at that price.
