CME: Milk Futures and Cash Dairy Prices Climb Higher
Source: The DairyNews
Milk futures on the Chicago Mercantile Exchange (CME) opened the week on a positive note, driven by a weaker dollar and favorable cash trade activity.
Milk Futures:
May Class III Milk: Increased by $0.08 to $18.71
June: Rose by $0.75 to $21.26
July: Up by $0.28 to $20.18
August: Increased by $0.21 to $19.75
September through November Contracts: Gained between $0.06 and $0.19
Cash Dairy Products:
Dry Whey: Remained steady at $0.3850, with five transactions ranging from $0.3850 to $0.39.
Cheese Blocks: Unchanged at $1.98, with two sales occurring between $1.9625 and $1.98.
Cheese Barrels: Rose by $0.06 to $1.9725, with one trade at $1.95.
Butter: Increased by $0.0375 to $3.0275, with one transaction at that price.
Nonfat Dry Milk: Climbed by $0.0150 to $1.1675, with three sales ranging from $1.16 to $1.17.
These upward trends in milk futures and cash dairy prices reflect a robust market response, underscored by strategic trading and market dynamics.
May Class III Milk: Increased by $0.08 to $18.71
June: Rose by $0.75 to $21.26
July: Up by $0.28 to $20.18
August: Increased by $0.21 to $19.75
September through November Contracts: Gained between $0.06 and $0.19
Cash Dairy Products:
Dry Whey: Remained steady at $0.3850, with five transactions ranging from $0.3850 to $0.39.
Cheese Blocks: Unchanged at $1.98, with two sales occurring between $1.9625 and $1.98.
Cheese Barrels: Rose by $0.06 to $1.9725, with one trade at $1.95.
Butter: Increased by $0.0375 to $3.0275, with one transaction at that price.
Nonfat Dry Milk: Climbed by $0.0150 to $1.1675, with three sales ranging from $1.16 to $1.17.
These upward trends in milk futures and cash dairy prices reflect a robust market response, underscored by strategic trading and market dynamics.
