On the Chicago Mercantile Exchange milk futures closed mostly lower Wednesday after another day of negative cash cheese trade. While October Class III milk at one point traded 69 cents lower during the product session, it finished today’s session at $18.73 per cwt, down 26 cents. The stretch of months between November and June 2020 ranged from 7 lower to 9 higher. Class IV markets followed a similar path watching October fall 22 cents and November through June was 13 lower to 9 higher.
Cheddar barrels faltered 10.5 cents on just a single trade and closed at $1.785 per lb. Barrels down $0.1050 at $1.7850. One trade was made at that price. Dry whey unchanged at $0.3975. Butter down $0.04 at $2.11. One trade was made at that price. Nonfat dry milk up $0.0050 at $1.0750. Four trades were made ranging from $1.07 to $1.0750.