On the Chicago Mercantile Exchange milk futures closed lower Wednesday as pressure continues across commodities, block cheese was the only cash market to see positive movement. Class III milk futures have continued their freefall, with the third quarter seeing the brunt of the weaker price action. June milk gained 7 cents to $17.32/cwt. July milk fell 5 cents to $17.08/cwt. August milk decreased 21 to $17.76/cwt. Class IV milk futures moved lower on very little volume.
Lots of trades changed hands in the block and barrel market during the CME Cash Dairy Product Trade. Blocks up $0.0050 at $1.51. Ten sales were made at that price. Barrels down $0.0225 at $1.6350. Eighteen trades were made from $1.6350 to $1.64. Butter unchanged at $1.8050. Five trades were made from $1.78 to $1.8050. Nonfat dry milk down $0.0150 at $1.2650. Two sales were made at that price. Dry whey down $0.0075 at $0.5925.