On the Chicago Mercantile Exchange milk futures started Monday mostly lower as traders corrected overbought positions and squared their stance ahead of Tuesday’s supply and demand report. February Class III milk up down three cents $15.61. March down 15 cents at $16.54. April unchanged at $17.12. May down 25 cents at $17.23. June through August contracts ten to 17 cents lower.
In product trade, blocks up $0.0250 at $1.6650. Three sales were made ranging from $1.66 to $1.6650. Barrels unchanged at $1.50. One sale was made at that price. Butter up $0.0125 at $1.28. Seven trades were made ranging from $1.2525 to $1.28. Nonfat dry milk up $0.0050 at $1.1250. Dry whey unchanged at $0.5350.
(T4, D2)
