On the Chicago Mercantile Exchange milk futures started Monday lower as did cash markets. Class III Milk had May down 24 cents to $24.77, June down 68 to $23.78, and July down 59 to $23.51/cwt. Class IV milk was also softer. May and June unchanged at $24.55 and $23.85. July fell 6 cents to $23.83/cwt.
Milk followed a lackluster CME spot trade. Blocks down $0.06 at $2.29. Four sales were made at $2.29 and $2.30. Barrels down $0.0225 at $2.3575. Butter down $0.0250 at $2.6150. One trade was made at that price. Nonfat dry milk down $0.0050 at $1.7350. One trade was made at that price. Dry whey unchanged at $0.5850.
(T7, D2)
