meta September 16th 2024 CME Dairy Market Report: Mixed Dairy Prices & Early Midwest Harvest Trends | The Bullvine

September 16th 2024 CME Dairy Market Report: Mixed Dairy Prices & Early Midwest Harvest Trends

The Chicago Mercantile Exchange (CME) saw mixed cash dairy prices on Monday, leaving many in the industry wondering what’s next. Whether managing a farm or supplying to one, these fluctuations can impact your operations directly. So, let’s dive into the details and see what they mean for you. 

Here’s a quick rundown of Monday’s activity: 

  • Dry Whey: Down $0.0150 to $0.59 per pound. Two sales were recorded.
  • Cheese Blocks: Up $0.0250 to $2.30 per pound. One sale was recorded.
  • Cheese Barrels: Up $0.0050 to $2.49 per pound. No sales were recorded.
  • Butter: Down $0.06 to $3.07 per pound. Three sales recorded, ranging from $3.07 to $3.10.
  • Nonfat Dry Milk: Down $0.0025 to $1.39 per pound. Five sales recorded, ranging from $1.3950 to $1.3975.

Butter prices slipped to their lowest since June, closing at $3.0700 per pound. The drop doesn’t just reflect on the numbers but on the broader market sentiment. Meanwhile, whey dipped by 1.5 cents, landing at $0.5900 per pound. On the other side of the spectrum, cheese prices showed resilience. Blocks and barrels saw upticks, closing at $2.3000 and $2.4900 per pound, respectively. 

Daily CME Cash Dairy Product Prices ($/lb.)

 FinalChange ¢/lb.TradesBidsOffers
Butter3.07-6321
Cheddar Block2.32.5100
Cheddar Barrel2.490.5012
NDM Grade A1.39-0.25524
Dry Whey0.59-1.5223

 Weekly CME Cash Dairy Product Prices ($/lb.)

 MonCurrent Avg.Prior Week Avg.Weekly Volume
Butter3.073.073.1513
Cheddar Block2.32.32.2891
Cheddar Barrel2.492.492.3860
NDM Grade A1.391.391.3925
Dry Whey0.590.590.5932

 CME Futures Settlement Prices

 Mon
Class III (OCT) $/CWT23.64
Class IV (OCT) $/CWT.22.76
Cheese (OCT) $/LB.2.246
Blocks (OCT)$/LB.2.24
Dry Whey (OCT) $/LB.0.575
NDM (OCT) $/LB.1.368
Butter (OCT) $/LB.3.0773
Corn (SEP) $/BU.4.42
Corn (DEC) $/BU.4.475
Soybeans (NOV ’24) $/BU.10.05
Soybeans (NOV ’25) $/BU.10.55
Soybean Meal (OCT) $/TON319.8
Soybean Meal (DEC) $/TON323.8
Live Cattle (OCT) $/CWT.177.3
(T6, D1)
Send this to a friend