On the Chicago Mercantile Exchange, milk futures were up and cash dairy prices were mixed Tuesday. Dairy markets began the post-Memorial Day trade with modest gains in Class III and IV milk. 2022 ranged in higher settlements from 4-19 cents/cwt for both classes of milk. Greater results were realized in 2023, especially Q1, where 17-31 cents was tacked on to the Class III average. The quarterly average settled out at $21.64/cwt, the high established for the quarter is $22.25/cwt.
In spot trade dry whey was unchanged at $0.5225. No sales were recorded. Cheese Blocks closed down $0.0325. at $2.2475. Four sales were recorded from $2.2475 to $2.28. Cheese Barrels were unchanged at $2.2950. Nine sales were made from $2.2950 to $2.2975. Butter was up $0.0025 at $2.88. Nine sales were made from $2.8525 to $2.88. Nonfat dry milk was up $.0050 to $1.8650. One sale was recorded at that price.
