On the Chicago Mercantile Exchange milk futures continued to slide a midweek as cash trade tumbled lower and the USDA announced plans to discontinue the food box program. Class III milk fell 11 cents in April to 17.49, May fell 63 cents to 18.83, and June fell 64 to 18.95/cwt. The balance of 2021 was 18-55 cents lower and is averaging 18.44/cwt. Class IV was unchanged in April at 15.43, May fell 8 to 16.00, and June fell 14 cents to 16.38/cwt.
The CME spot trade had blocks down $0.0450 at $1.76. Barrels down $0.04 at $1.68. Two trades were made at $1.6775 and $1.68. Butter down $0.0175 at $1.8775. Six sales were made at $1.8775. Nonfat dry milk unchanged at $1.2050. Dry whey unchanged at $0.66.
(T1, D1)
