At the Chicago Mercantile Exchange Class III milk futures closed lower on commercial selling and the mostly lower trade in the cash market. February was down $.01 at $14.02 and March was $.10 lower at $14.36, while April was down $.11 at $14.53 and May was $.14 lower at $15.04. January’s official settlement was at 13.96 leaving the first and second half averages now at 14.57 and 16.31. Class 4 markets were mainly lower in the front months Feb through June traded 3 cents lower to 3 cents higher and September through November traded 1 to 4 cents lower. The rest were unchanged.
The CME spot product market was mixed as 4 of the 5 products offered traded. Cash butter was down a 1/4 cent at $2.29. One load was sold at $2.30. The last uncovered offer was for one load at $2.29. Cash butter was down a 1/4 cent at $2.29. One load was sold at $2.30. The last uncovered offer was for one load at $2.29. Cash cheese barrels were unchanged at $1.30 and 1/4. 17 trades were reported, including 13 at the closing price. Nonfat dry milk was 3/4 of a cent lower at $1. Three loads were sold, including one at the closing price. The last unfilled bid was on one load at $.99 and 1/2. The last uncovered offer was for one load at $1.00 and 1/2.
