On the Chicago Mercantile Exchange milk futures closed higher Thursday as traders corrected oversold positions and cash markets were mostly higher. Class III milk futures traded higher but came off its highs as the day progressed. May milk gained 22 cents to $24.94/cwt. June milk settled at $24.32/cwt. July milk advanced 12 cents to $24.24/cwt. Class IV milk futures were slightly higher.
Dairy products settled mostly higher in the CME dairy product trade. Blocks up $0.0025 at $2.35. Two trades were made at $2.35 and $2.3525. Barrels up $0.03 at $2.33. One sale was made at that price. Butter up $0.01 at $2.66. Three trades were made at $2.66 and $2.67. Nonfat dry milk up $0.0050 at $1.74. One trade was made at that price. Dry whey down $0.0025 at $0.5850.
