January Class III milk futures closed 39 cents lower at $16.96 on the Chicago Mercantile Exchange Tuesday. February fell 11 to $17.07. We saw March, April, and May actually trade up 1-7 cents. First half 2020 is averaging $16.97 per cwt. Class IV milk was unchanged in December and January at $16.73, and $16.98. February fell 5 to $17.19 per cwt. We again see Class IV futures trading above Class III in 2020.
Dry whey down $0.0025 at $0.31. Blocks down $0.0275 at $1.7425. Five trades were made, ranging from $1.7425 to $1.7550. Barrels down $0.04 at $1.57. Ten trades made, ranging from $1.57 to $1.5925. Butter $0.0075 higher at $1.9875. Nonfat dry milk down $0.0150 at $1.25.
