On Monday at the Chicago Mercantile Exchange, milk futures went up and cash dairy prices were mixed. When the price of cheese went up, Class III milk futures did well. In February, 43 cents/cwt were added to $18.67. March went up 29 cents to $18.28/cwt. Prices for the second quarter went up by 16–26 cents, while prices for the second half went down by 1–7 cents. Except for December 2023, most of the Class IV markets were up.
As two loads of blocks moved from seller to buyer, the price per pound went up by 15.5 cents. Blocks settled at $1.99/lb. The price of barrel cheese went up 9 cents/lb to $1.67, and two loads were moved. Butter dropped 4 cents to $2.2825 per pound. Dry whey went up by a quarter cent, but Grade A nonfat dry milk went down by the same amount to $1.1725/lb.