On the Chicago Mercantile Exchange milk futures closed mostly lower Thursday ahead of the monthly dairy product report while cash markets were mixed. September Class III milk up 19 cents at $16.82. October six cents lower at $18.96. November 34 cents lower at $17.73. December down 36 cents at $16.84. January through March contracts three to 20 cents lower.
Small volumes on the CME spot market drive prices higher. Dry whey down $0.0025 at $0.3325. One sale was made at that price. Blocks up $0.1425 at $2.0525. One trade was made at $2.05. Barrels up $0.0650 at $1.6350. Two trades were made at that price. Butter down $0.01 at $1.50. Twenty-two trades were made ranging from $1.50 to $1.53. Nonfat dry milk down $0.0050 at $1.03. Three trades were made at $1.0275 and $1.03.
The grain and feed complex was mixed. December corn finishing ¾ cent higher to 3.58 ¾, Chicago wheat fell 5 ¾ cents to 5.58 ¼, Soybeans gained 7 ¼ to 9.62 even, and soybean meal fell 50 cents to $302.30/ton.
