On the Chicago Mercantile Exchange milk futures traded mixed Thursday with little to no direction from the cash market. Class III milk markets witnessed very little trade and change Thursday. Months ranged from a penny lower to six cents higher. The second half 2019 average closed today at $16.73 per cwt. Class IV activity was limited as well. May added 8 cents while the remaining moths were minimally higher. The second half of Class IV for 2019 is averaging $17.36 per cwt. Outside of the dairy complex we saw broad based buying once again.
CME spot product markets were mainly unchanged on Thursday. Cheddar blocks, barrels, Grad A nonfat dry milk and dry whey each ended even on the day. Blocks closed at $1.65 and three-quarters respectively. Dry milk finished at $1.05 and dry whey at 34 cents per lb.
