On the Chicago Mercantile Exchange milk futures started the week off higher following last week’s optimism and positive cash trade movement. Class III milk prices jumped 46 cents/cwt in October while November was up 36 and December added 12 cents. New contract highs were put in on all three 4th quarter months today. The 4th quarter average now stands near $19.45/cwt. Futures were also up across all months in 2021 as months ranged from 4-11 cents/cwt stronger. Volume in 2021 has also begun to pick up. Class IV futures had limited trade once again.
On the CME spot dairy auction dry whey up $0.0075 at $0.3975. Two sales were made at $0.3950. Blocks up $0.0275 at $2.6375. Barrels up $0.0350 at $1.99. Two sales were made at $1.9550 and $1.99. Butter down $0.03 at $1.48. Twelve trades were made ranging from $1.48 to $1.5025. Nonfat dry milk up $0.0075 at $1.13. Nine sales were made ranging from $1.1225 to $1.13.
