On the Chicago Mercantile Exchange milk futures and cash dairy prices were all up Monday. Class III milk prices were up double digits throughout 2022 futures. 2nd quarter prices broke through and traded $24/cwt multiple times on Monday. Second half months rallied 14-33 cents with a current average nearing $22.75/cwt. First half 2023 added 11-26 cents and pushed above $20/cwt. Class IV months were a mixed bag but only the nearby months saw activity.
Dairy product markets kicked off Monday in a positive manner. Cheese Blocks were up $.0125 closing at $2.16. Three sales were recorded between $2.1550 and $2.1625. Cheese Barrels were $.0575 higher, closing at $2.0275. Seven sales were recorded ranging from $2.00 to $2.0275. Butter was up $.0375 to $2.7225. Six sales were made ranging from $2.6875 to $2.7250. Dry whey was unchanged at $0.7575. No sales were recorded. Nonfat dry milk was down $.01 closing at $1.8625. Two sales were recorded at $1.86 and $1.8625.
