On the Chicago Mercantile Exchange milk futures continue higher with strong butter prices supportive to markets. Class III milk futures were mixed. January milk fell 4 cents to $19.85/cwt. February milk soared 20 cents to $20.40/cwt. March milk was up 8 cents to $20.27/cwt. Class IV milk rallied 8-25 cents higher with the nice move higher in butter today.
In spot trade butter surged 9.50 cents higher to $2.40/lb in the CME Spot Dairy Auction. This marks the highest price since July of 2019. Block cheese climbed 2 cents to $1.93/lb. Barrel cheese 4.50 cents to $1.6325/lb. Whey held steady at $.75/lb. NFDM slipped half a penny to $1.6625/lb.
(T4, D1)
