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Winter Milk Price Futures Skyrocket Higher


Dairy markets explode higher Wednesday as we had nearly every product see green on the CME spot trade. Cheese led the charge higher with Cheddar blocks trading 5 ¾ cents higher to $1.76/lb with Barrels up 3 ¾ cent to $1.68 1/4. Dry whey finished boosting class 3 milk by adding 1 ½ cents to $0.38 1/2/lb. Butter clawed back ¾ of a cent to $3.41 ¾ with Grade A Non Fat Dry milk our lown outlyer, falling a penny to $1.22/lb.


Class III milk traded limit higher for December, up 75 cents to $18.59/cwt. November tagged along, up 71 to $18.54, with October holding just a penny higher at $16.80 as we transition to pricing November milk this week. 2024 months broke back above $19 in July, Aug, and September with most months up 5-40 cents.


Class IV milk treaded water with October at $21.59, November up 2 cents to $21.10, and December down 10 cents to $19.95/cwt. 2024 was mostly unchanged between $19.25-19.95/cwt.


By KNOW YOUR MARKET

October 18, 2023

dairyherd.com


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