On the Chicago Mercantile Exchange milk futures were mixed Tuesday as nearby markets took on a negative tone and further out 2022 contracts show optimism. Class III milk saw February get hit with a 46-cent daily loss while all others closed in the green. Milk futures between February and October all begin with a $21 or higher price at Tuesday’s close. Class IV markets had another solid day of trade adding 10-35 cents/cwt in the February through July 2022 time period.
The CME Spot Dairy Auction followed this morning’s Global Dairy Trade (GDT) Event. Dry whey up $0.01 at $0.78. One sale was made at that price. Blocks down $0.04 at $1.88. Four sales were made from $1.8750 to $1.91. Butter up $0.0550 at $2.78. Four trades were made from $2.7250 to $2.7725. Nonfat dry milk up $0.0350 at $1.85. Three sales were made at that price. Barrels down $0.0050 at $1.96.
