At the Chicago Mercantile Exchange Thursday cash dairy prices were mostly higher and milk futures were sharply higher. Class III market jumped 18 cents for an average from now through the end of the year to finish at $15.98. All contracts in the fourth quarter added to their $16 plus prices while the September contract alone rose 29 cents to finish just under $16 at $15.99.
Thursday’s trade was all about cheese. Blocks advanced another 4 cents higher without a trade taking place but moving the final price to $1.64 and ½ cents. That is the highest price that’s been witnessed since May 10, and is only 5 and ¾ cents from the highest price paid for block cheddar all year. Barrels followed suit trading five loads moving 5 and ¼ cents higher and finishing at $1.56 and ¾ cents. Whey was more neutral finishing unchanged at 44 cents. However, that still maintains its highest price since whey entered the spot trade back in March. Butter rose 2 cents to finish at $2.34. Seven loads traded hands there. Grade A nonfat dry milk moved in the opposite direction, falling ½ cents on three loads to finish at 81 and ½ cents.