Milk futures on the Chicago Mercantile Exchange started the week higher, supported by a lower dollar and positive cash trade. May Class III milk rose eight cents to $18.71, while June futures jumped 75 cents to $21.26. July saw an increase of 28 cents at $20.18, and August edged up 21 cents to $19.75. Contracts from September through November climbed between six to 19 cents.
In the cash dairy market, several trades were reported:
- Dry whey remained steady at $0.3850 with five sales ranging from $0.3850 to $0.39.
- Blocks were unchanged at $1.98, with two sales made from $1.9625 to $1.98.
- Barrels increased by $0.06 to $1.9725, with one trade at $1.95.
- Butter advanced by $0.0375 to $3.0275, with one trade reported at that price.
- Nonfat dry milk rose by $0.0150 to $1.1675, with three sales made from $1.16 to $1.17.
