It was whey’s turn to shine in Chicago today, as prices elevated to $0.5400 per pound, up a penny to the highest level since June 2022. Spot NDM also had a strong day, with prices lifting to $1.2350 per pound, tacking on $0.0150, with 12 loads exchanged. Cheese inched closer to the $2 mark – blocks settled at $1.9400, adding one cent, and barrels finished at $1.9750, up $0.0150.
Class III futures traded in the green, with August futures rising to $20.43 per hundredweight, up 17 cents on the day. September and October futures are now trading above $21. Meanwhile, Class IV futures remained largely steady, with Q4 prices settling at $21.41 per hundredweight, adding eight cents.
Domestic cheese prices this week averaged $1.95 per pound, above $1.91 in New Zealand but well behind Europe’s price of $2.11. US nonfat prices are uncompetitive at $1.22 per pound, ahead of the NZ price of $1.14 and Europe’s price of $1.15.
