Cheese Prices Boost U.S. Milk Markets, Class III Futures Respond

U.S. milk markets saw a lift on the back of stronger cheese prices in today's spot market, with gains in cheddar prices driving optimism across the industry. Class III milk futures for the first quarter showed notable growth, climbing nearly 30 cents on average. The rally was further supported by high whey prices, which recently reached their highest levels since March 2022.