On the Chicago Mercantile Exchange milk futures started Monday on the positive side as traders bought back oversold positions and cash markets were higher. Class III values added 8 to 20 cents/cwt in Q2 2022 while Q3 added 30 cents and Q4 2022 jumped 30-52 cents/cwt. First half 2023 ranged from 6-27 stronger in the months that traded. Class IV markets had more limited trade and gains adding 9-24 cents in the May through December 2022 contracts.
In spot trade, Barrels up $0.02 at $2.03. Two sales were made at that price. Butter up $0.0250 at $2.7350. Eight trades were made from $2.7025 to $2.7425. Nonfat dry milk up $0.0050 at $1.8450. Two sales were made at $1.84 to $1.8450. Dry whey unchanged at $0.7575. Blocks unchanged at $2.19.
(T3, D1)
