At the Chicago Mercantile Exchange Class III milk futures continued to slide Wednesday as increasing supplies and slowing demand hangs over the market. The fourth quarter average of 2018 dropping 14 cents to $15.10. October closed unchanged at $15.50. November down 20 cents at $14.90. December down 17 cents at $14.95. The first half of 2019 now finds itself at $15.30 for a price 13 cents lower than Tuesday and nearly 50 cents lower than last week at this time. Class IV market site activity in Wednesday’s session. The balance of 2018 now rest set an average price of $14.86 down 15 cents from Tuesday. The first half of 2019 fell 16 cents to come to a final average of $15.15. January 17 cents lower at $14.91. February through next September contracts closed six to 16 cents lower.
Barrels were down $0.0125 at $1.2075. Fourteen trades were made ranging from $1.2075 to $1.2175. Blocks were $0.0050 lower at $1.47. Five trades were made ranging from $1.4575 to $1.4750. Butter was up $0.0175 at $2.2125. Seven trades were made ranging from $2.20 to $2.2150. Nonfat dry milk remained unchanged at $0.87. One sale was made at that price. Dry whey unchanged at $0.4750. Two trades were made at that price.
