Milk futures on the Chicago Mercantile Exchange began the week mainly down, weighed down by a higher dollar and little cash action. Class III milk for May is down 11 cents to $16.46. The June contract was five cents higher at $17.04. July dropped six cents to $17.70. August fell two cents to $18.50. September through November futures are down seven cents to be steady.
To begin the week, the CME spot dairy auction was quite calm. Dry whey is constant at $0.3275. The price of blocks remains steady at $1.6125. Barrels are down $0.0150 to $1.5150 per barrel. At $2.43, butter is down $0.0150. At that price, one sale was made. Nonfat dry milk unchanged at $1.1975.
(T1, D1)
