On the Chicago Mercantile Exchange milk futures started the week lower pressured by a surge in grain prices while cash trade was mixed. May Class III milk suffered a 33 cent loss and ended at $25.13/cwt. June declined 6 cents while the third quarter ranged from 13-18 lower. Most Class IV months ended the day unchanged.
The CME spot dairy auction saw Dry whey up $0.0050 at $0.64. One sale was made at that price. Blocks up $0.0250 at $2.3975. Five sales were made from $2.3725 to $2.40. Barrels down $0.0250 at $2.4150. Five trades were made at $2.4125 and $2.4150. Butter down $0.0150 at $2.74. Three trades were made at $2.7325 and $2.74. Nonfat dry milk unchanged at $1.8225.
(T2, D1)
