Midweek trade in milk futures on the Chicago Mercantile Exchange was lower, owing in part to reduced and inactive cash trade. The price of February Class III milk remains unchanged at $17.93. March is down eight cents to $17.66. April is down 9 cents to $17.85. May is a penny lower at $18.35. Contracts are five to eleven cents lower from June to August. As Butter fell lower on Wednesday, Class IV milk suffered. Class IV milk came after butter but remained unchanged nearby. February was $18.97, March was $18.93, but April was 26 cents lower at $18.92, and May was 29 cents lower at $19.30/cwt.
After a few quiet days on the CME, butter fell 34 cents to $2.42/lb, reversing the slow gains it had been making. The price of nonfat dry milk remained unchanged at $1.22 3/4/lb. Cheese fell a penny in blocks to $1.88, and barrels fell a quarter cent to $1.53./4. Dry Whey remained stable at $0.43 1/2/lb.
