Market News

Milk futures, cash dairy higher

Milk futures on the Chicago Mercantile Exchange continued to press higher Monday as the block and barrel cheddar spread again widened to a new record and block cheddar broke another daily record.

July Class III milk 14 cents higher at $24.34.  August up 36 cents at $23.40.  September 43 cents higher at $20.71.  October 25 cents higher at $18.76.  November through January contracts eight to 21 cents higher.

Dry whey up $0.03 at $0.30. 

Blocks up $0.0850 at $3.00, a new record.  Seven trades were made ranging from $2.9175 to $3.00. 

Barrels up $0.0625 at $2.4025. 

Butter up $0.0325 at $1.7275.  Eleven trades were made ranging from $1.72 to $1.7275.

Nonfat dry milk unchanged at $1.0150.