On the Chicago Mercantile Exchange milk futures turned lower Thursday with position squaring and limited cash movement. Class III milk futures were mostly lower across the curve. May milk dropped 21 cents to $24.64/cwt. June milk fell 23 cents to $24.59/cwt. July milk crashed 32 cents to $24.41/cwt. Class IV milk futures traded 5-22 cents higher on the day.
Dairy products were steady to higher Tuesday in the CME spot dairy auction. Dry whey up $0.0175 at $0.6350. One sale was made at that price. Blocks unchanged at $2.31. Barrels up $0.0125 at $2.3125. Butter up $0.0350 at $2.7825. Seven trades were made from $2.7475 to $2.7825. Nonfat dry milk down $0.0025 at $1.8175. Three sales were made from $1.8175 to $1.8225.
(T1, D1)
