On the Chicago Mercantile Exchange Milk futures began the week lower with limited direction from cash markets and following the overall tone of the grain and livestock complex. Class III milk futures began Monday deep in the red following Friday’s broad based commodity move lower and was never able to recover fully. January led months lower as its price fell 26 cents. February through December 2022 ranged from 11-19 lower. Similar results over in Class IV milk with months that traded down 1 to 20 cents cents/cwt.
The CME dairy spot auction saw little excitement. Dry whey unchanged at $0.70. Blocks unchanged at $1.8575. Barrels up $0.01 at $1.5350. One trade was made at that price. Butter unchanged at $1.99. Two trades were made at $1.9925. Nonfat dry milk down $0.01 at $1.5525. One trade was made at that price.
