On the Chicago Mercantile Exchange milk futures continued their trend higher Thursday as cash markets found strength. Class III and IV prices popped higher on Thursday. November Class III added 51 cents/cwt and ended at $19.27 while December traded 47 stronger to a $18.85/cwt settlement. January pushed 21 cents higher to $18.14/cwt while February and March were up 7 and 9 cents, respectively. Beyond Q1 2022, most Class III months were flat. Class IV was also in on the action as November traded 17 higher to $18.07 while December was up 25 cents/cwt. First half 2022 ranged from 11 to 28 cents stronger.
Spot product saw dry whey up $0.0050 at $0.6050. One sale was made at that price. Blocks up $0.0475 at $1.8075. Three trades were made from $1.7575 to $1.8075. Barrels up $0.0450 at $1.79. Four trades were made from $1.76 to $1.79. Butter unchanged at $1.82. Nonfat dry milk up $0.0525 at $1.5275. Three trades were made from $1.50 and $1.5375.
