Milk futures on the Chicago Mercantile Exchange started Monday mostly lower as traders corrected overbought positions and squared their stance ahead of Tuesday’s supply and demand report.

February Class III milk up down three cents $15.61.  March down 15 cents at $16.54.  April unchanged at $17.12.  May down 25 cents at $17.23.  June through August contracts ten to 17 cents lower.

Dry whey unchanged at $0.5350. 

Blocks up $0.0250 at $1.6650.  Three sales were made ranging from $1.66 to $1.6650.

…