At the Chicago Mercantile Exchange milk futures started the week lower pressured by loses in the cash market. Class III milk had a hard time keeping the slight strength of early trading and ended the day down $.04-.16/cwt to finish with a first half average of $14.77 and second half at $16.35. January class III milk futures closed unchanged at $13.99. February down nine cents at $14.13. March down 15 cents at $14.49. April down 17 cents at $14.88. May through September contracts were six to 13 cents lower. Class IV markets are continuing their strength. Only losing $.03-.06/cwt in the months that traded.
Dry whey down $0.04 at $0.4650. Four trades were made ranging from $0.4650 to $0.50. Blocks down $0.01 at $1.39. One trade was made at that price. Barrels down $0.0225 at $1.1775. Three trades were made ranging from $1.1775 to $1.18. Butter down $0.0075 at $2.2325. One trade was made at $2.2350. Nonfat dry milk down $0.0125 at $1.0150. One trade was made at that price.
