On the Chicago Mercantile Exchange, most milk futures and cash dairy prices continued to rise Wednesday. Class III milk had January sliding 9 cents to $20.66, February finished the day 56 cents higher to $22.35/cwt and March up 31 to 21.75. The balance of 2022 was up 6-24 cents with only December lagging below $20. Class IV milk extended their gains as well. January up 41 cents to $22.25, February up 89 cents to $22.40 with March up 81 cents to $22.36/cwt. The balance of the year seeing double-digit gains except for Dec.
How high can the spot trade go? After we saw limit moves Tuesday, the follow-through bullish tone returned on Wednesday. Cheese Blocks closed up $.0500 at $2.0650. Three sales were recorded from $2.0475 to $2.06. Cheese Barrels were $.0725 higher, closing at $1.8725. Three sales were recorded from $1.8550 to $1.8725. Butter was up $.0600 at $2.71. There were three sales ranging from $2.7075 to $2.7125. Nonfat dry milk was up $.0225 at $1.6675. Eight sales were recorded from $1.6525 to $1.6675. Dry whey was unchanged at $0.7525. No sales were recorded.
