On the Chicago Mercantile Exchange milk futures started the week with strong positive trade as lower grain prices leave traders optimistic on milk prices. July added 18 cents while August led the pack moving 31 cents higher to $17.90 per cwt. September through November grew 14-17 cents while December was up 5 cents. The second half of 2019 ended Monday with an average price of $17.70 per cwt. 2020 priced traded 5-10 cents higher as well. First half 2020 prices closed at $16.75 per cwt. average. Class IV markets traded slightly lower. September dropped 7 cents while all other months settled even to 3 cents softer. CME spot product markets had the cheddar barrel market down a penny following 2 trades at $1.78 per lb. Blocks gained three-quarters of a cent to $1.86 and a half on three loads moving from seller to buyer.
Dry whey down $0.0050 at $0.33. One trade was made at that price. Blocks up $0.0075 at $1.8650. Three trades were made ranging from $1.8550 to $1.8650. Barrels down $0.01 at $1.78. Two trades were made at that price. Butter unchanged at $2.41. Nonfat dry milk unchanged at $1.05.
