On the Chicago Mercantile Exchange milk futures along with cash trade closed lower Thursday ahead of a bearish milk production report. Class III milk fell 16 in August to 16.03, Sept down 2 to 17.11, and October down 4 to 17.08. Class IV was unchanged across the board. Aug at 15.75, Sept at 15.91, and October at 16.01/cwt.
The CME spot trade continues to be relatively quiet but failed to see any products move higher. Dry whey unchanged at $0.5275. Blocks down $0.03 at $1.73. Barrels down $0.0075 at $1.5050. Five trades were made at $1.5050 and $1.5150. Butter down $0.0025 at $1.6825. Three trades were made from $1.6825 to $1.69. Nonfat dry milk down $0.0025 at $1.25. One trade was made at that price.
(T7, D2)
