On the Chicago Mercantile Exchange milk futures closed higher Tuesday supported by strong cash trade and positive export prospects. Markets will be closed Thursday and Friday for the holiday. Class III Milk’s turkey trot higher continued Tuesday. Driven by a positive move in cheese, December gained 28 cents to $19.09, January gained 30 to $18.66, and February gained 31 cents to $18.08. November gained one as we near the end of the month at $20.37 per cwt. Class IV milk though unchanged in November at $16.65, December gained 7 to $17.10, and January gained 5 to $17.39 per cwt.
Dry whey up $0.0025 at $0.3525. Blocks up $0.0475 at $1.93. Two trades were made at $1.93 to $1.9325. Barrels up $0.05 at $2.1925. One trade was made at that price. Butter unchanged at $2.01. Nonfat dry milk up $0.01 at $1.23. Six trades were made on a range of $1.22 to $1.23.
Grain markets showed some weakness, December corn fell 3 cents to $3.67 ½, January soybeans fell 8 ¼ to $8.84 ¼, and December soybean meal fell $3.60 to $294.70 per ton.
