If you’ve been following the Chicago Mercantile Exchange, you may have noticed some exciting developments on Tuesday. The combination of constant and rising pricing presents a lot to analyze. Dive in with us and discover what it all means for you.
Dry whey is stable at $0.5650, with two sales confirming the figure. It symbolizes steadiness, which you could appreciate in these uncertain times. Meanwhile, cheese blocks and barrels remained steady at $2.14 and $2.25, respectively. There are no new transactions to announce here, but sometimes, no news is good.
And then there is butter. Butter prices have risen by $0.0225 to $3.1975, setting new yearly highs. That’s a significant increase, with thirteen sales from $3.1975 to $3.22. Nonfat dry milk (NDM) climbed by $0.0175, reaching $1.3150. Thirteen transactions were also registered, with values ranging from $1.3050 to $1.3175. These moves might indicate a strong trend that will continue for some time.
Daily CME Cash Dairy Product Prices ($/lb.)
| Final | Change ¢/lb. | Trades | Bids | Offers | |
|---|---|---|---|---|---|
| Butter | 3.1975 | +2.25 | 13 | 4 | 3 |
| Cheddar Block | 2.1400 | NC | 0 | 0 | 0 |
| Cheddar Barrel | 2.2500 | NC | 0 | 0 | 2 |
| NDM Grade A | 1.3150 | +1.75 | 13 | 3 | 7 |
| Dry Whey | 0.5650 | NC | 2 | 4 | 4 |
Weekly CME Cash Dairy Product Prices ($/lb.)
| Mon | Tue | Current Avg. | Prior Week Avg. | Weekly Volume | |
| Butter | 3.175 | 3.1975 | 3.1863 | 3.159 | 16 |
| Cheddar Block | 2.14 | 2.14 | 2.14 | 2.082 | 7 |
| Cheddar Barrel | 2.25 | 2.25 | 2.25 | 2.225 | 1 |
| NDM Grade A | 1.2975 | 1.315 | 1.3063 | 1.279 | 27 |
| Dry Whey | 0.565 | 0.565 | 0.565 | 0.561 | 2 |
Weekly CME Cash Dairy Product Prices ($/lb.)
| Mon | Tue | Current Avg. | Prior Week Avg. | Weekly Volume | |
| Butter | 3.175 | 3.1975 | 3.1863 | 3.159 | 16 |
| Cheddar Block | 2.14 | 2.14 | 2.14 | 2.082 | 7 |
| Cheddar Barrel | 2.25 | 2.25 | 2.25 | 2.225 | 1 |
| NDM Grade A | 1.2975 | 1.315 | 1.3063 | 1.279 | 27 |
| Dry Whey | 0.565 | 0.565 | 0.565 | 0.561 | 2 |
CME Futures Settlement Prices
| Mon | Tue | |
| Class III (SEP) $/CWT. | 22.54 | 22.55 |
| Class IV (SEP) $/CWT. | 22.27 | 22.59 |
| Cheese (SEP) $/LB. | 2.205 | 2.194 |
| Blocks (SEP)$/LB. | 2.14 | 2.14 |
| Dry Whey (SEP) $/LB. | 0.54 | 0.54 |
| NDM (SEP) $/LB. | 1.2775 | 1.3045 |
| Butter (SEP) $/LB. | 3.1995 | 3.2175 |
| Corn (SEP) $/BU. | 4.24 | 3.6725 |
| Corn (DEC) $/BU. | 3.86 | 3.925 |
| Soybeans (SEP) $/BU. | 9.6075 | 9.695 |
| Soybeans (NOV) $/BU. | 9.81 | 9.8775 |
| Soybean Meal (SEP) $/TON | 312.2 | 317.3 |
| Soybean Meal (DEC) $/TON | 308.1 | 312.4 |
| Live Cattle (OCT) $/CWT. | 176.98 | 179.18 |
Trading commodities futures and options entails considerable risk. Investors must carefully balance these risks with their financial status. Although we obtained the material from credible sources, it has not been independently confirmed. This article represents the author’s viewpoint, not necessarily that of The Bullvine, and is meant as a solicitation. Remember that previous performance does not guarantee future outcomes.
