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CME: Mixed Trends in Milk Futures and Cash Dairy, Influenced by Dollar Strength

World 25.01.2024
Source: The DairyNews
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Milk futures on the Chicago Mercantile Exchange exhibited mixed trends, influenced by some cash activity and the impact of a stronger dollar looming over the market.
CME: Mixed Trends in Milk Futures and Cash Dairy, Influenced by Dollar Strength
Key Highlights:
  • February Class III milk futures experienced a decline of 19 cents, settling at $15.70.
  • March contracts were 16 cents lower, closing at $15.97.
  • April futures saw a decrease of nine cents, ending at $16.63.
  • May contracts recorded a 13-cent drop, settling at $17.30.
  • June through August contracts exhibited declines ranging from 11 to 20 cents.

Cash Market:
  • Dry whey prices saw an increase of $0.0075, reaching $0.4350.
  • Blocks remained unchanged at $1.50, with two sales reported at $1.14975 and $1.50.
  • Barrels experienced a decline of $0.0075, closing at $1.46.
  • Butter prices remained unchanged at $2.5450.
  • Nonfat dry milk prices increased by $0.0150, reaching $1.19, with one sale reported at that price.

The market dynamics were influenced by both cash activity and the prevailing strength of the dollar.
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