On the Chicago Mercantile Exchange milk futures were down and cash dairy prices were mixed Monday. Class III started the day up 5-10 cents and turned following the start of the CME spot trade. June falling 16 cents to $16.04/cwt, July off 16 to 16.47, and Second half being mixed with the average at 16.92/cwt. Class IV milk fell 2 cents in June to $16.86, was unchanged in July at $17.02 and has a second half average of $17.28/cwt.
The CME spot product trade drove Class III milk lower on Monday as both Cheddar Barrels and Butter sold off on Monday. Dry whey was unchanged at $.3525 cents per pound. Two bids were offered but no sales were recorded. Forty-pound blocks were up $.0050 at $1.72 per pound. One bid of $1.71 was offered and two sales at $1.7250 were recorded. Barrels were down $.0225 to $1.5150 per pound. Nine sales were recorded from $1.52 to $1.54. There were also five bids offered between $1.47 and $1.50. Grade AA Butter was down $.01 at $2.35 per pound. Two sales were recorded at that price, and a bid was received at $2.33. Nonfat dry milk was down $.0025 at $1.0525 per pound. Four bids were offered, but no sales were recorded.
