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Milk Markets Turn Soft in Chicago Thursday

On the Chicago Mercantile milk futures turned lower Thursday while cash markets provided little direction.  Class III milk was lower across the futures. February fell 2 to 17.01, March fell 17 to 17.12. The balance of the first half moved 25-28 cents lower to average at 17.14/cwt. Second half of 2020 slid 15-26 lower to average at 17.67/cwt. Class IV milk also slid lower, losing 7 in Feb to 16.35, March fell 26 to 16.14, and April fell 33 to 16.33/cwt. 

Dry whey down $0.0025 at $0.3925.   Blocks unchanged at $1.8650.  One sale was made at that price. Barrels up $0.0250 at $1.5850.  Five trades were made at $1.57 and $1.5850.  Butter unchanged at $1.80.  Nonfat Dry milk down $0.0275 at $1.1975.  Four trades were made at $1.1950 and $1.1975.

Grain and feed continue to be mixed Corn fell 3 ½ to 3.79 ½, Soybeans gained 3 ¾ cents to 8.96 ½, and Soybean meal gained 20 cents to 291.90/ton.

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