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Milk futures lower, cash dairy trade mixed

Milk futures on the Chicago Mercantile Exchange pulled back from earlier week gains Thursday ahead of the USDA’s dairy product report.

January Class III milk down a quarter at $20.41. February 68 cents lower at $21.67. March 70 cents lower at $21.05. April down 60 cents at $20.74. May through July 32 to 58 cents lower.

Dry whey unchanged at $0.7525.

Blocks down $0.0150 at $2.05.

Barrels unchanged at $1.8725.

Butter up $0.0325 at $2.7425. Ten trades were made at $2.74 and $2.7425.

Nonfat dry milk unchanged at $1.6675.

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