On the Chicago Mercantile Exchange milk futures continued to trade mixed Thursday as did cash markets ahead of the USDA’s milk production and slaughter reports. Most months rallied around 3-8 cents/cwt higher from May 2021 through the end of the year. June is now pricing out at a value of $18.34/cwt while the second half average is $19.125/cwt. Class IV trade went the opposite route as futures in second half 2021 fell double digits in many months. July down four cents at $19.06. August up four cents at $19.29. September through November contracts three to nine cents higher. The second half average sits at $17.76/cwt.
The spot cheese markets once again saw great volumes trade during Thursday’s session. Blocks down $0.0225 at $1.58. Nine trades were made from $1.58 to $1.5950. Barrels up $0.0125 at $1.8675. One sale was made at that price. Butter up $0.0025 at $1.8550. One sale was made at that price. Nonfat dry milk unchanged $1.3025. One sale was made at $1.30. Dry whey up $0.0050 at $0.6450.
