On the Chicago Mercantile Exchange milk futures did a reversal Wednesday to the higher side as position squaring and strong cheese markets continue. Class III milk saw small gains across the board. February up 18 to $20.31, March up 16 to $21.51, and April up 11 to $21.60/cwt. The balance of the year unchanged to 16 cents higher. Class IV milk struggled with both butter and non fat slipping lower. February fell 15 to $23.45, with March down 39 to $23.74 and April off 34 to $23.15/cwt. The balance of the year was unchanged to 14 cents lower.
The CME spot trade saw dry whey up $0.0050 at $0.8575. One trade was made at that price. Blocks up $0.0225 at $1.88. Barrels up $0.0450 at $1.84. One trade was made at that price. Butter down $0.03 at $2.4525. Three sales were made from $2.4525 to $2.4675. Nonfat dry milk down $0.0125 at $1.7975. Nine trades were made from $1.7925 and $1.82.
