On the Chicago Mercantile Exchange milk futures closed Tuesday higher supported by double-digit gains in global trade and strong cash trade. Class IV milk has awakened to start the month of March. March exploded with a 62-cent gain to $14.90/cwt. April gained 12 cents to $15.13/cwt. Second half 2021 average jumped to $16.75/cwt. Class III milk was also impressive with several months breaking through $18/cwt. Second half 2021 average is $18.04/cwt.
The CME Cash Dairy Product Trade dry whey up $0.0075 at $0.5650. Two sales were made at $0.56 and $0.5650. Blocks up $0.0050 at $1.63. Two sales were made at $1.6225 and $1.63. Butter up $0.08 at $1.7150. Four trades were made ranging from $1.65 to $1.71. Nonfat dry milk up $0.0325 at $1.1750. Twelve trades were made ranging from $1.16 to $1.1750. Barrels unchanged at $1.42.
