Milk futures on the Chicago Mercantile Exchange started the week lower as commodity prices continued to go down while cash markets were all over the place. Class III and IV futures also got caught up in that weaker trade, which was a shame. Class III lost 8 cents in October 2022, 40 cents in November, and 26 cents/cwt in December. 2023 months out to August were also between 19 and 33 cents lower. From December 2022 to May 2023, Class IV fell 16–25 cents.
Dry whey ended the day on the CME spot markets up $0.0025 at $0.4525. At $0.46, one sale was made. Blocks are now $2.01, up $0.05. At that price, one sale was made. At $2.1750, barrels are down $0.01. At $3.1325, butter hasn’t changed. The price of nonfat dry milk is still $1.58.
(T5, D1)
