Market News

Milk futures approach $23, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange closed higher Thursday on holiday optimism and strong cheese demand.

July Class III milk 12 cents higher at $22.97.  August up 54 cents at $20.95.  September 45 cents higher at $18.81.  October 36 cents higher at $17.74.  November through January contracts 18 to 31 cents higher.

Dry whey unchanged at $0.33.   

Blocks up $0.0350 at $2.6750.  Six trades were made ranging from $2.66 to $2.68. 

Barrels up $0.0150 at $2.4150.  Four trades were made at $2.41 and $2.4150.

Butter down $0.0125 at $1.7375. 

Nonfat dry milk up $0.0050 at $1.01. 

Markets will be closed on July 3rd for the holiday.