On the Chicago Mercantile Exchange milk futures on the marched higher Thursday as positive global trade and strong cash markets support prices. Class III milk futures surged after the higher spot cheese trade today. April milk jumped 39 cents to $23.39/cwt. May milk finished 43 cents higher to $23.50/cwt. June advanced 26 cents to $23.17/cwt. Class IV milk futures also saw upside. April milk tacked on 2 cents to $25.20/cwt. May milk accelerated 25 cents to $25.25/cwt.
Dairy products were steady to higher in the CME spot dairy auction. Dry whey up $0.0150 at $0.7550. Blocks up $0.0475 at $2.1025. Two sales were made at $2.10 and $2.1025. Barrels up $0.05 at $1.97. Five trades were made from $1.94 to $1.97. Butter up $0.0225 at $2.70. Ten sales were made from $2.70 to $2.7175. Nonfat dry milk unchanged at $1.8750. One trade was made at that price.
