On Monday, milk futures and cash dairy prices fluctuated on the Chicago Mercantile Exchange. Class III milk futures markets concluded with December up twelve cents at $20.47/cwt, Q1 2023 down ten to a penny higher, and Q2 2023 down ten to six weaker. The second half of 2023 will perform between even and seventeen cents better. In January and February, Class IV markets gained 12 and 13 cents, respectively. Other months remained unchanged.
Monday’s spot dairy auction on the CME was a mixed bag. Dry whey decreased $0.0225 to reach $0.4450. There were two transactions totalling $0.4475 and $0.4550. Cheese blocks increased $0.02 to reach $2.03. Two sales totalling $2.02 and $2.03 were recorded. Cheese Barrels were up $0.01 at $1.9850. Seven transactions were recorded between $1.98 and $1.99. The price of butter increased significantly for the second consecutive session, rising $0.0975 to $2.87. Four transactions ranged from $2.84 to $2.87. The price of nonfat dry milk fell $0.0150 to $1.3850. There were three sales at that price.
