Class III milk futures closed higher in the nearby contracts at the Chicago Mercantile Exchange Monday. Class III milk market was only able to eke out a 6 cent gain and its average of the fourth-quarter, rising to $16.14, while next year’s average rose 6 cents as well to $16.23. October milk gained four cents, closing at $15.94. November down seven at $16.29. The December contract was down six cents Tuesday at $16.13. The January through March contracts were down four to seven cents.
locks rose 5 and three-quarter cents to finish at $1.74 and three-quarters, while barrels rose 3 and three-quarters cents to finish at $1.42. In the wake of this trade, the spread moves to a record width of 32 and three-quarter cents. Grade A nonfat dry milk rose a half cent to finish at 88 cents a pound while butter dropped 2 and a quarter to finish the session at $2.29 and three-quarters way remained unchanged at 55 cents.
