The CME dairy complex began the week higher after a Global Dairy Trade (GDT) that was mixed but overall lower in Event 326. March Class III milk was $0.19 higher at $17.84. April was $0.24 higher at $18.07. May was $0.17 higher at $18.45. June was $0.11 higher at $18.89. Contracts from July to January ranged from eight cents lower in January to twelve cents higher in November.
On Monday, the CME spot market was closely watched. The price of dry whey remained unchanged at $0.45. There were no sales recorded. Cheese blocks increased $0.08 to $1.96. Four sales ranged from $1.90 to $1.96. Cheese barrels increased $0.0350 to $1.5825. There were nine sales ranging from $1.5525 to $1.5825. Butter was trading at $2.38, up $0.0050. At #2.36, one sale was recorded. The price of nonfat dry milk remained unchanged at $1.22. One transaction was recorded at $1.2225.
