At the Chicago Mercantile Exchange, class III milk futures started the week lower following the negative tone of last week’s market. By the end of the session, the average price of Class III milk in Q4 dropped 13 cents to a price of $15.16 per cwt. with the month of November now trading below $15 at a price of $14.88, It fell 20 cents. The first half of 2019 calendar average finished a dime lower at $15.45. January 11 cents lower at $15.08. February through next September contracts closed three to 12 cents lower. The Class IV market saw a little activity and finished unchanged.
Barrels were down $0.0175 at $1.2325. Six trades were made ranging from $1.2325 to $1.25. Blocks unchanged at $1.5150. Butter was down $0.0075 at $2.2250. One trade was made at that price. Nonfat dry milk was unchanged at $0.8675. Dry whey unchanged at $0.47.
