Milk futures on the Chicago Mercantile Exchange closed lower Wednesday following USDA’s crop estimate reports which suggest increasing feed costs ahead.

July Class III milk down six cents at $16.91. August down nine cents at $17.13. September down 16 cents at $17.34. October down 16 cents at $18.11. November through January contracts 16 cents lower to unchanged.

Dry whey down $0.0050 at $0.56. One sale was made at $0.57.

Blocks up $0.01 at $1.5525.

…