Milk futures on the Chicago Mercantile Exchange closed higher Monday as traders remain optimistic about increased trade with Mexico. Class III settled 4-7 cents higher and closed at a second half average price of $17.04 per cwt. Class IV had similar trading activity as months gained 2-12 cents per cwt. to a second half average of $17.40 per cwt. Prices were supported Monday by a higher cheddar block trade. Blocks added 3 and a quarter cent to $1.78 and a half cents per lb. One trade was moved while one bid was left uncovered in the market.
Dry whey down $0.01 at $0.3575. One trade was made at that price. Blocks up $0.0325 at $1.7850. One trade was made at that price. Barrels unchanged at $1.5350. Four trades were made ranging from $1.52 to $1.5350. Butter down $0.01 at $2.3875. Six trades were made ranging from $2.3850 to $2.4050. Nonfat dry milk unchanged at $1.0550.
