On the Chicago Mercantile Exchange milk futures turned higher Thursday as traders bought back oversold positions and cash trade was mostly positive. Class III milk futures were higher across the board. May milk climbed 41 cents to $24.58/cwt. June milk was 38 cents higher to $24.82/cwt. July milk finished 44 cents higher to $24.61/cwt. Class IV milk futures were lower on the day with both butter and NFDM moving lower.
In spot trade dry up $0.0050 at $0.64. Two sales were made at that price at $0.6375 and $0.64. Blocks up $0.0275 at $2.3625. Three sales were made from $2.3350 to $2.3625. Barrels up $0.0275 at $2.37. Nine trades were made from $2.34 to $2.37. Butter down $0.03 at $2.69. Three trades were made from $2.68 to $2.69. Nonfat dry milk down $0.0150 at $1.7725. One trade was made at that price.
