On the Chicago Mercantile Exchange milk futures continued their decline at midweek following a bearish dairy product report and lower cash trade. Class III milk saw February fall 14 to $16.89, March fell 24 to $17.06 and April fell 8 to $17.17. Our first half of 2020 sits at $17.06 per cwt. Class IV Milk also moved lower throughout 2020 futures. February fell 20 to $16.58, March fell 3 to $16.62, and April fell 9 to $16.75 per cwt. First half of 2020 for class IV sits at $16.85 per cwt.
Dry whey unchanged at $0.3650. Blocks down $0.0125 at $1.9025. One sale was made at that price. Barrels down $0.0150 at $1.4550. Two trades were made at $1.4725 and $1.4750. Butter down $0.0250 at $1.8550. Six trades were made ranging from $1.8550 to $1.87. Nonfat dry milk up $0.01 at $1.2250. Eight trades were made ranging from $1.22 to $1.2325.
Grain markets were mixed with March corn falling 1 ½ cents to $3.80 ¾, March soybeans gained half a cent to $8.80 even, and March soybean meal fell $1.10 to $287.40 per ton.
