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Milk Markets Lower Monday in Chicago

On the Chicago Mercantile milk futures ended Monday mostly lower while cash markets became more active.   Class III milk futures begun Monday’s trade on a higher note before reversing course lower. April milk fell 3 cents to $15.89, May lost 13 cents to $15.65 per cwt. and June declined 9 cents to $15.74. The second half of 2019 ranged from 7 cents lower in July to 5 cents higher in December. Class IV milk added 3-7 cents per cwt. May through September. Tomorrow, Global Dairy Trade event 234 will be released. We shall see how products fare with that if milk prices can find support to further this $1.60 rally in the April contract that began mid-February. April Class III milk down three cents at $15.89. May down 13 cents at $15.65. June down nine cents at $15.74. July down seven cents at $16.05. August through December contracts were two cents lower to a nickel higher.

Dry whey down $0.01 at $0.3475. Two trades were made at $0.3475 and $0.35. Blocks up $0.0050 at $1.65. Four trades were made ranging from $1.6350 to $1.65. Barrels down $0.02 at $1.5975. Four trades were made at that price. Butter remained unchanged at $2.2575. Nonfat dry milk remained unchanged at $0.9875.

Grain markets on Monday saw corn add 2 cents, soybeans traded 3 and a half cents higher and wheat lost 5-7 cents per bu.


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