On the Chicago Mercantile Exchange milk futures closed lower Wednesday following USDA’s crop estimate reports which suggest increasing feed costs ahead. July Class III milk down six cents at $16.91. August down nine cents at $17.13. September down 16 cents at $17.34. October down 16 cents at $18.11. November through January contracts 16 cents lower to unchanged.
On spot markets, dry whey down $0.0050 at $0.56. One sale was made at $0.57. Blocks up $0.01 at $1.5525. Barrels down $0.0025 at $1.5025. One trade was made at that price. Butter down $0.0250 at $1.74. Six trades were made from $1.74 to $1.7650. Nonfat dry milk down $0.01 at $1.26. One trade was made at that price.
(T2, D1)
