Find out how a stronger dollar is affecting CME cash dairy prices. Check out the latest trades and price changes for butter, blocks, barrels, etc. Want to know the specifics?
If you look at Chicago Mercantile Exchange (CME) cash dairy prices, you’ll notice that most categories are trending downward. This is mainly due to a stronger dollar, which typically pushes lower commodity prices, including dairy.
Here’s a quick snapshot of the current state of CME cash dairy prices:
- Dry whey: Price increased by $0.0150, now at $0.4850 per pound
- Cheese blocks: Decreased by $0.0175, closing at $1.8725 per pound
- Cheese barrels: Fell by $0.0050, settling at $1.91 per pound
- Butter: Dropped $0.0325 to $3.0325 per pound
- Nonfat dry milk: Reduced by $0.0050, now at $1.1875 per pound
Dry whey rose by $0.0150 to $0.4850 per pound, with one trade recorded at this price, showing some market activity.
Cheese blocks dropped by $0.0175, settling at $1.8725 per pound. Factors like the stronger U.S. dollar and supply fluctuations are likely behind this trend, affecting the pricing and making U.S. exports less competitive.
Cheese barrels also fell by $0.0050 to $1.91 per pound. One trade was made at this price. These changes mirror those in block prices and reflect broader market adjustments.
Butter prices decreased by $0.0325 to $3.0325 per pound, which is notable compared to last week’s higher values. Six trades were made between $3.0175 and $3.0325, indicating continued market engagement despite the decline.
Nonfat dry milk experienced a slight dip of $0.0050 to $1.1875. The fact that seven trades were recorded within the $1.18 to $1.1875 range underscores the active participation in this commodity, keeping the market engaged.
The Bottom Line
On Tuesday, the CME cash dairy market predominantly witnessed lower prices, a trend largely influenced by a stronger dollar. While dry whey saw a slight increase, key dairy products like blocks, barrels, butter, and nonfat dry milk experienced a decline. Notably, sales activity was significant in butter and nonfat dry milk, reflecting the challenging market conditions for dairy prices.
