The CME cheese markets have finally started to hit the brakes after a rapid ascent to year-to-date highs. So, what does this mean for you and your farm? Let’s break it down. September Class III milk futures are up 21 cents, landing at $21.34. October futures rose by 9 cents to $21.66. November edged up by 13 cents to $21.13. Contracts for December through February showed minor changes, ranging from a penny higher to 6 cents lower. Blocks rose to $2.0275 per pound, up $0.0075, while barrels settled at $2.1650 per pound, a half-cent higher.
| Commodity | Price Change | New Price |
|---|---|---|
| September Class III Milk Futures | + $0.21 | $21.34 |
| October Class III Milk Futures | + $0.09 | $21.66 |
| November Class III Milk Futures | + $0.13 | $21.13 |
| December-February Milk Futures | varies (- $0.01 to – $0.06) | — |
| Blocks | + $0.0075 | $2.0275 per pound |
| Barrels | + $0.0050 | $2.1650 per pound |
| Dry Whey | – $0.0025 | $0.56 |
| Nonfat Dry Milk | + $0.01 | $1.2425 per pound |
| Butter | No Change | $3.12 |
These numbers may seem like minor adjustments, but every cent counts for a dairy farmer like you. And there’s more. Nonfat dry milk saw a penny increase, hitting $1.2425 per pound, while butter prices held steady at $3.12 per pound. Dry whey dipped by $0.0025, now at $0.56. Nine lots of blocks and four loads of barrels were traded. Seven loads of nonfat dry milk were exchanged.
