meta Despite Recent Attempts at Support, Milk Prices Remain Weak. | The Bullvine

Despite Recent Attempts at Support, Milk Prices Remain Weak.

Tuesday, October 25th, 2022

On Monday, milk futures on the Chicago Mercantile Exchange were mostly the same or slightly up, while cash dairy prices were mostly down. The end of the Class III and Class IV milk futures markets showed a range of results. Class III went up 3 cents/cwt in November 2022, and it went up 1 cent/cwt in December. Milk futures for 2023 were anywhere from even to 10 cents down. From November 2022 to June 2023, markets in Class IV closed 3 to 21 cents in the green.

This week, the CME spot dairy auction started on a slightly weaker note. Blocks of cheese went up by $0.0025 to $2.06. At that price, one sale was made. Cheese Barrels were down $0.03 at $2.06. There were no sales. At $3.19, butter was down $0.01. There were no sales. The price of nonfat dry milk stayed at $1.42. There were no sales. Dry whey stayed the same price of $0.44. There were no sales.

(T2, D1)

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