On the Chicago Mercantile Exchange milk futures turned higher following the release of USDA’s prospective plantings and stocks reports. Milk markets saw a quiet CME spot trade but Class III took its ques from the grains. Class III milk in May and June touched 75 cents higher, but finished the day with April up 43 to $17.60, May up 67 to $18.23, and June up 61 to $18.44/cwt. Class IV also jumped higher with April up 14 to $15.59, May up 26 to $15.96, and June up 26 cents to $16.29/cwt.
The spot trade saw dry whey up $0.03 at $0.66. Three sales were made ranging from $0.6350 to $0.65. Blocks down $0.01 at $1.7375. Two trades were made at $1.72 and $1.73. Barrels up $0.0025 at $1.4825. Butter down $0.0050 at $1.8175. Eight trades were made ranging from $1.8050 to $1.8325. Nonfat dry milk up $0.0050 at $1.1850. Three trades were made at $1.18 to $1.1850.
