On the Chicago Mercantile Exchange milk futures continued to fall and cash dairy prices were all steady to lower Thursday. Class III milk’s trend lower continued Thursday. August fell 27 cents to $19.88/cwt. September milk crashed 48 cents to $19.42/cwt. Class IV milk futures settled lower too.
Thursday’s CME spot dairy product auction was steady to lower on the day. Dry whey was unchanged at $0.42. No sales were recorded. Cheese blocks were down $0.0850 closing at $1.7650. No sales were recorded. Cheese Barrels were down $0.0425 at $1.7475. Five sales were recorded from $1.7475 to $1.76. Butter went down $0.01 closing at $3.05. Four sales were made from $3.04 to $3.0725. Nonfat dry milk was down $0.02 at $1.5775. One sale was recorded at that price.