On the Chicago Mercantile Exchange milk futures closed lower again Thursday with repeat pressure from a mostly lower cash market and gains in the grain complex. Class III milk futures receded significantly after spot cheese traded lower. November fell 23 cents to $23.54/cwt. December milk finished limit down to $19.42/cwt. January milk pushed 37 cents lower to $17.55/cwt. Class IV traded lower as butter and nonfat milk struggle to gain any upward traction.
November Class III milk down 20 cents at $23.57. December 75 cents lower at $19.42. January down 32 cents at $17.60. February 13 cents lower at $16.66. March through May contracts three to nine cents lower.
Whey has been the only bright spot in the CME Cash Dairy Product Trade this week. Dry whey up $0.0025 at $0.4225. One sale was made at that price. Blocks down $0.1325 at $2.4975. Barrels down $0.0075 at $2.4875. Four trades were made at $2.4875 to $2.49. Butter unchanged at $1.4375. Nonfat dry milk down $0.0075 at $1.06. Two trades were made at $1.0575 and $1.06.
