On the Chicago Mercantile Exchange milk futures started the week mixed with limited cash movement. Class III milk moved 13 cents stronger in the May contract while June added 4. The second half of 2022 ranged anywhere from even to 18 cents softer. First quarter 2023 declined 5 cents in January but added 6 and 10 cents in February and March, respectively. Class IV milk futures contracts declined around 20 cents in most months in 2022.
CME spot dairy product markets were quiet to start the week. Dry down $0.02 at $0.6150. Four sales were made from $0.6250 to $0.63. Blocks unchanged at $2.3925. Barrels unchanged at $2.37. Butter down $0.01 at $2.6575. Nonfat dry milk unchanged at $1.7550. One trade was made at that price.
