On the Chicago Mercantile Exchange Milk futures turned course Thursday back higher supported by continued strength in cash markets. Class III milk futures were higher on the day. March milk settled 4 cents higher to $22.35/cwt. April milk progressed 16 cents to $22.79/cwt. Class IV milk futures saw weakness in the near term with butter and NFDM trading lower.
On the CME spot dairy trade blocks up $0.0050 at $1.9875. Barrels up $0.0150 at $1.9350. Seven trades were made from $1.9175 to $1.9350. Butter down $0.011 at $2.69. Six trades were made from $2.69 to $2.73. Nonfat dry milk down $0.02. at $1.87. Dry whey unchanged at $0.81. Three sales were made from $0.81 to $0.8175.
(T2, D1)
