On the Chicago Mercantile Exchange milk futures started Monday higher supported prerecord positioning ahead of this week’s supply and demand report. Class III milk moved 5 cents higher in March at $16.35, April gained 11 cents to $17.75, May gained 13 cents to $18.27. Second half of 2021 was 10-15 cents higher and is averaging $18.24/cwt. Class IV lost some steam. March was unchanged at $14.32, April fell 13 cents to $15.09, May fell 8 cents to $15.58/cwt. Balance of 2021 was unchanged to 4 cents lower. Averaging at $16.62/cwt.
The CME spot trade was a bit of a sleeper. Dry whey up $0.0150 at $0.5950. Blocks unchanged at $1.7325. Barrels unchanged at $1.5075. Butter up $0.0025 at $1.6925. Five trades were made ranging from $1.6725 to $1.6925. Nonfat dry milk unchanged at $1.1775. One sale was made at $1.1750.
