On the Chicago Mercantile Exchange milk futures pushed past $20 in summer contracts supported by optimism for declining feed costs and strong cash sales. Class III futures set new contract highs in second half 2021 as well as the 2022 calendar year with gains as high as 70 cents in the June contract. Class IV prices also finished higher to end the day.
May Class III milk up 18 cents at $19.07. June up 64 cents at $19.64. July up 69 cents at $20.08. August up 65 cents at $20.04. September through November contracts 33 to 45 cents higher.
On the CME Cash Dairy Product Trade dry whey up $0.0025 at $0.63. Blocks up $0.0425 at $1.8125. Seven trades were made from $1.78 to $1.8075. Barrels up $0.0650 at $1.7550. Three trades were made from $1.6875 to $1.71. Butter up $0.0375 at $1.85. Nonfat dry milk down $0.0150 at $1.3075. Five trades were made from $1.3075 to $1.3150.
