On the Chicago Mercantile Exchange milk futures started the week lackluster with cash markets weighing on prices. Class III milk markets settled 40-50 cents lower although certain months were trading down near a limit of 75 cents near the close. May and June are nearing $24.00/cwt while the second half average is now offering $23.20/cwt. 2023 Class III was also down around 20 cents/cwt. Class IV weakened 20 cents/cwt as well.
Dairy markets were beat up on Monday as cheese was sold off. Blocks down $0.0225 at $2.3475. Two sales were made at that price. Barrels down $0.04 at $2.30. Ten trades were made from $2.30 to $2.34. Butter down $0.0075 at $2.6675. Five trades were made from $2.6550 to $2.6675. Nonfat dry milk down $0.0050 at $1.75. One trade was made at that price. Dry whey down $0.01 at $0.5950. Two sales were made at $0.5950 and $0.60.
