meta CME Dairy Update: Milk Futures and Cash Prices Drop on Tuesday, Cheese Barrels Climb | The Bullvine
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CME Dairy Update: Milk Futures and Cash Prices Drop on Tuesday, Cheese Barrels Climb

Wednesday, May 15th, 2024

Milk futures and cash dairy prices were lower, except for cheese barrels, on the Chicago Mercantile Exchange (CME) this Tuesday. Specifically, dry whey remained steady at $0.3850, with two sales recorded at that price. Meanwhile, forty-pound cheese blocks fell $0.05 to $1.93, with fourteen sales ranging from $1.93 to $2.00. Cheese barrels were an exception, climbing $0.0875 to $2.06 with a single recorded sale.  Butter decreased $0.0325 to $2.9950, with seventeen sales, ranging from $2.9950 to $3.0075. Nonfat dry milk dipped $0.0025 to $1.1650, with twenty-six sales, ranging from $1.16 to $1.1650.

All Class III milk futures were down on Tuesday: 

  • June Class III milk fell $0.49 to $20.77.
  • July decreased by $0.29 to $19.92.
  • August dropped $0.25 to $19.49.
  • September was down $0.19 at $19.43.

For the final quarter, changes in contracts ranged from five cents lower in November and December to eighteen cents lower in October.

(T1, D1)

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