At the Chicago Mercantile Exchange, class III milk futures closed mostly higher Monday following Friday’s optimism. Fourth quarter prices, we’re up double digits while 2019 was up 2-8 cents. Class IV markets were up slightly as well.
Spot product markets on Monday had butter up to 2 ¾ cents to $2. 2575 following six trades and four bids. Cheddar barrels moved 2 cents higher to $1. 52 per pound, while blocks added another ¾ of a cent to $1. 67 per pound. Dry whey was unchanged at 51.5 cents. Grade A nonfat dry milk lost a penny and closed at 90 cents per pound.