meta Cheese Trade Drives Milk Markets Higher In Chicago Wednesday :: The Bullvine - The Dairy Information You Want To Know When You Need It

Cheese Trade Drives Milk Markets Higher In Chicago Wednesday


On the Chicago Mercantile Exchange milk futures traded mixed to mostly higher at midweek with positive moves seen in cash cheese trade. Class III Milk had May up 8 cents to 19.15, June fell 2 to 19.76 and July gained 2 cents to 19.86/cwt. Class IV milk was quiet nearby, but 2022 jumped higher. May slid 1 cent to 16.20, June and July were unchanged at 16.99, and 17.31. January of 2022 gained 20 cents to 17.75 and Feb and March also moved to 17.75/cwt.

Dairy markets were stable as the CME spot trade saw Dry whey up $0.0025 at $0.6475.  Two sales were made at $0.6450 and $0.6475.  Blocks up $0.0025 at $1.8025.  Five trades were made at $1.80 and $1.8025.  Barrels up $0.0250 at $1.8450.  Seven sales were made from $1.8250 to $1.8450. Butter down $0.01 at $1.7350.  Nine trades were made from $1.7350 to $1.7425. Nonfat dry milk up $0.0175 at $1.3575.  Ten sales were made at $1.3575 and $1.36.

Feed costs will continue to pressure dairy Margins. Wednesday had December corn break through $6 for new crop and July pushed through $7.  Corn finished the day with July up 11 ¾ cents to $7.08 ½. December corn at 6.04 3/4 /bu. These values have not been seen since September of 2013. Soybean meal gained 2.90 to $424.40/ton as Soybeans gained 4 cents in July to 15.42 ¼, and November gained 19 ½ cents to 13.82 ¾ /bu.


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