On the Chicago Mercantile Exchange, Class III milk contracts closed lower for the first time this week Wednesday. June futures lost 6 cents while July – September dropped 9-11 cents and the fourth quarter declined 2-5 cents. At the close, second half pricing in Class III was offering $17.07 per cwt. Class IV second half prices settled at $17.46 per cwt.
CME spot product trade was led by butter on Wednesday. Butter down $0.0125 at $2.3925. Sixteen trades were made, ranging from $2.3850 to $2.3950. Dry whey unchanged Wednesday at $0.3575. Blocks down $0.01 at $1.7850. Barrels steady at $1.5525. Nonfat dry milk no change, closing at $1.0550. Two trades were made at $1.0550.
