meta Milk Futures Stop Falling and Find Footing in Chicago Thursday :: The Bullvine - The Dairy Information You Want To Know When You Need It

Milk Futures Stop Falling and Find Footing in Chicago Thursday


At the Chicago Mercantile Exchange, class III milk futures were able to take back some earlier week losses Thursday supported by an active cash trade, shrinking cow herd and weakening international prices. After falling $1.45 in the November contract since the beginning of October, milk futures finally found some footing on Thursday following a higher spot product trade. November traded 21 cents higher and settled at $15.11 per cwt. while December was up 28 cents. The 2019 Class III prices had January through April 21-27 cents higher, May up 14 cents, June 12 cents stronger and July to November 2-8 cents higher.  Class IV prices were slightly higher.

Product trade on Thursday saw positive results in 4 of 5 products offered. Dry whey regained a penny and closed at 48 and a half cents per lb. following a couple of bids. Cheddar barrels moved 14 loads and jumped 4 and three-quarter cents per lb. to settle out at $1.25 and a half cents per lb.  Blocks were $0.0275 higher at $1.4975. Five trades were made ranging from $1.4625 to $1.4975. Butter was up $0.0275 at $2.24. Fourteen trades were made ranging from $2.2325 to $2.2475. Nonfat dry milk was down $0.0025 at $0.8675. Two sales were made at $0.8650 and $0.8675.

 


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