On the Chicago Mercantile Exchange milk futures closed higher Thursday as declines in grains and gains in cash prices buoyed markets. Class III milk prices exploded higher with multiple contract highs set. November milk surged 57 cents to $19.89/cwt. December milk was up 47 cents to $19.52/cwt. 2022 milk futures increased 13-49 cents. Class IV prices also saw similar price action, gaining around 20 cents in both November and December to $18.25 and $18.48/cwt.
Spot dairy prices shot higher today following yesterday’s friendly September Milk Production Report. Dry whey up $0.01 at $0.61. One sale was made at $0.6050. Blocks up $0.01 at $1.76. Barrels up $0.05 at $1.86. Five trades were made from $1.82 to $1.86. Butter up $0.0450 at $1.8450. One trade was made at that price. Nonfat dry milk up $0.0075 at $1.5275. Four trades were made at $1.5275 and $1.53.
