On the Chicago Mercantile Exchange milk futures were mostly higher Wednesday picking up oversold positions and some optimism in cash cheese trade. Class III milk tried to follow cheese, but whey held it back. July finished up 21 cents to 16.95/lb, Aug gained 33 to 16.92 and Sept gained 4 cents to 17.16/cwt. The balance of the year struggled and saw mostly lower moves into 2022. Class IV milk slid lower, July down 1 to 16.12, Aug fell 14 to 15.70 and Sept down 1 to 15.84/cwt.
The CME spot trade saw blocks jump $0.0875 at $1.71. Two sales were made at $1.64 and $1.71. Barrels up $0.04 at $1.55. Eleven trades were made from $1.51 to $1.56. Butter unchanged at $1.74. Nonfat dry milk down $0.0175 at $1.2275. Dry whey down $0.0325 at $0.4975. One sale was made at $0.50.
