On the Chicago Mercantile Exchange the return of the butter market helped push milk futures higher. Class III closed with March milk up 27 cents to a value of $21.88/cwt. April also jumped 30 cents and crossed the $22 handle while May rallied 42 cents, and June was 30 higher. The second half of 2022 traded 8-31 cents stronger. The Q2 2022 period is offering $21.96/cwt whereas the 2nd half is at $21.10/cwt. Class IV markets ranged anywhere from even to 30 cents stronger in 2022.
Product prices were firmer on Monday as well. Barrels up $0.0150 at $1.91. Butter up $0.0175 at $2.5175. Nonfat dry milk up $0.0125 at $1.8450. Six trades were made from $1.84 to $1.8450. Dry whey unchanged at $0.8575. Blocks unchanged at $1.90.
(T2, D1)
