On the Chicago Mercantile Exchange milk futures closed mostly lower Thursday, taking back earlier week gains while cash markets were mixed. Class III milk was mixed during Thursdays trade. July finished up 5 cents to $17.46, August lost 2 cents to $17.69, and September fell 6 to $17.96. We continue to have a hard time holding prices above $18. The Second half average is at $17.70/cwt. First quarter of 2020 was down 7-8 cents and averaged at $16.86/cwt. Class IV milk saw gains of 3-8 cents with July unchanged at $16.90, and the second half average for Class IV milk at $17.12/cwt.
he CME spot product trade was quiet, Dry whey down $0.0025 at $0.3550. Two trades were made at that price. Blocks down $0.0025 at $1.83. Five trades were made ranging from $1.8275 to $1.83. Barrels up $0.0025 at $1.72. Six trades were made at that price. Butter unchanged at $2.36. Nonfat dry milk up $0.0125 at $1.03. Ten trades were made ranging from $1.02 to $1.0325.
