On the Chicago Mercantile Exchange most milk futures and cash dairy prices spiked higher Tuesday. Class III milk futures saw a limit move of 75 cents higher starting in February out through April. Prices range from $21.10-$21.79/cwt. January milk advanced 67 cents to $20.70/cwt. Class IV prices climbed anywhere from 1-55 cents higher in 2022.
In spot trade butter launched an explosive 16 cent gain, settling at $2.65/lb in the CME Spot Dairy Auction today. Barrel cheese surged 8.75 cents higher to $1.80/lb. Block cheese crossed the $2.00 threshold, finishing at $2.0150/lb. Whey was unchanged at $0.7525/lb. NFDM settled in place at $1.6450/lb.
