On the Chicago Mercantile Exchange milk futures started the week sharply lower as did most grain and livestock markets. April suffered a 77 cent break while May lost 85 cents and June faltered 73. The second half of the year ranged from 16-49 lower. Class IV closed in the red as well with losses ranging from a penny lower in November to 37 softer in July.
The spot market was lower with Dry whey down $0.0025 at $0.7175. Blocks down $0.0150 at $2.26. One trade was made at that price. Barrels unchanged at $2.25. Four trades were made at $2.2475 and $2.25. Butter down $0.0575 at $2.7350. Eight trades were made from $1.7325 to $2.7450. Nonfat dry milk down $0.0050 at $1.8475. Six trades were made from $1.84 to $1.8475.
(T1, D1)
