On the Chicago Mercantile Exchange milk futures found strength Thursday following a bullish milk production report and positive cash trade. Class III milk futures soared on the day. June gained 22 cents to $24.79/cwt. July milk launched a 42-cent gain to $24.82/cwt. 2023 milk futures also saw nice increases. Class IV milk futures climbed higher. June exploded for a 68-cent gain. July added 58 cents to $25.05/cwt.
In the CME spot dairy product auction, Dry whey down $0.0025 at $0.50. Six sales were made from $0.49 to $0.5025. Blocks up $0.0050 at $2.38. One trade was made at that price. Barrels down $0.05 at $2.40. Two trades were made at $2.40 to $2.42. Butter up $0.0350 at $2.8275. Nine sales were made from $2.80 to $2.8325. Nonfat dry milk up $0.0450 at $1.79. Two trades were made at $1.79 and $1.7925.