Milk futures lower, cash dairy trade mixed
Milk futures on the Chicago Mercantile Exchange closed lower Friday following USDA’s supply and demand report which was bearish for grains.
September Class III milk down four cents at $16.69. October down 21 cents at $17.34. November 20 cents lower at $17.30. December down four cents at $17.57. January through March contracts 16 cents lower to three cents higher.
Dry whey up $0.0025 at $0.53. One sale was made at that price.
Blocks up $0.0175 at $1.79.
Barrels down $0.0125 at $1.4775. Two sales were made at $1.4775 and $1.4925.
Butter down $0.0050 at $1.7850. Two sales were made at $1.7850 ad $1.79.
Nonfat dry milk up $0.0125 at $1.3575. One sale was made at that price.