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July and August 2022 led market strength adding 13 cents/cwt each.
Today’s Global Dairy Trade event 302 concluded with the GDT Price Index 4.2% higher.
Milk rallied Wednesday despite a lackluster CME spot trade.
Cheese finds a bid and butter continued its slide in a mixed day in the dairy trade.
Spot butter climbed to $2.9350, the highest price since September 2015 with an impressive volume of 18 trades taking place in the CME Spot Dairy Auction.
Butter continued to rocket higher, gaining 3 ¾ cent to $2.78/lb.
Butter continued its wild ride – gaining 6 cents on 3 trades to finish at $2.71 per lb.
Class III milk futures saw a limit move of 75 cents higher starting in February out through April.
Spot butter surged 9.50 cents higher to $2.40/lb in the CME Spot Dairy Auction.
Global Dairy Trade event #298 took place Tuesday morning and the price index closed 1.5% lower.
Class III milk futures were mixed. January milk declined 21 cents to $19.59/cwt. February added 1 penny to $19.95/cwt.
2022 Class IV milk has a $20.43 average, pulling ahead of Class III.
Butter puts in new highs to end the week.
Class III and IV markets finished the week off with a bang.
December class III milk advanced 58 cents to $17.73/cwt. January milk tacked on 55 cents to $18.30/cwt. February shot up 35 cents to $18.75/cwt. Class IV milk futures jumped 15-34 cents in the first half of 2022.