On the Chicago Mercantile Exchange milk futures were down in the near term and cash dairy prices were mostly up Wednesday. Butter moves into territory we have not seen since September 2015. $3 butter in the CME cash market sets new highs since 2015. Cheese was quieter with barrels a penny higher to $20.25 ½ and blocks fell half a cent to $2.27 ½.
June Class III milk was down $0.13 at $24.30. July closed down $0.15 at $25.01. August closed down $0.11 at $24.90. September was down $0.04 at $24.71. October through May contracts ranged from fifteen cents lower in November to twenty cents higher in May.
(T1, D1)
