On the Chicago Mercantile Exchange milk futures closed mostly lower Monday pressured by cash markets. Class III milk futures saw very little trade outside of the December 2021 contract. December lost 13 cents/cwt with a settlement price of $17.49/cwt. 2022 months ranged anywhere from 5 cents lower to 10 cents higher. January 2022 led the months in volume with just 56 contracts trading. Class IV was virtually unchanged across its curve Monday.
The CME spot dairy auction ended Monday with block cheese turning in the largest move. Blocks down $0.05 at $1.70. Barrels down $0.02 at $1.5175. Two trades were made at $1.5150 and $1.5175. Dry whey down $0.0050 at $0.6750. One trade was made at that price. Butter unchanged at $1.95. Nonfat dry milk down $0.0050 at $1.5450.
