On the Chicago Mercantile Exchange milk future again closed higher Thursday as cash markets and price optimism for 2022 continues. Class III milk saw January gain 17 cents to $20.18, February gained 38 to 20.83 and March jumped 34 cents to $20.79/cwt. The first half of 2022 sits at $20.43/cwt. Class IV milk continues to be the leader. January gained 20 to $21.50, February was up 6 cents to 21.41, and March up 4 to 21.41/cwt. The first half of 2021 has a class IV average of $21.30/cwt.
The CME spot dairy product trade saw great volume all week. On Thursday blocks up $0.03 at $1.98. Two sales were made at $1.9725 and $1.98. Barrels up $0.02 at $1.71. Eleven trades were made from $1.70 to $1.7150. Butter up $0.0150 at $2.4475. Four trades were made from $2.4350 to $2.45. Nonfat dry milk up $0.0075 at $1.6550. Three trades were made from $1.65 to $1.6550. Dry whey unchanged at $0.75.
The Price Index for November, at 103.5, is up 5.6 percent from the previous month but down 1.4 percent from November a year ago. The November all milk price of $20.80 per cwt is $1.10 higher than October but 30 cents lower than November 2020.
