On Tuesday, both milk futures and cash dairy prices were up on the Chicago Mercantile Exchange. Class III milk futures for 2023 were only a little bit higher. The January milk price went up by 31 cents to $19.35. February milk rose 9 cents to $19.21. The price of milk in March went up 8 cents to $19.45. Class IV futures were unchanged to up, but not many contracts were traded.
Most dairy products were more expensive. Tuesday, the CME held an auction for spot dairy products. Dry whey rose by $0.01 to $0.4550 per pound. At that price, there was one sale. Blocks of cheese went up $0.0125 to $2.0725. At that price, there was one sale. Cheese barrels were down $0.01 at $1.86. There were no sales made. At $2.77, butter went up $0.07. Four sales were recorded between $2.7075 and $2.7750. Nonfat dry milk stayed the same, at $1.3575. No sales were reported.
