CME Prices Up In January

The Upper Midwest Dairy News reports commodity prices on the Chicago
Mercantile Exchange (CME) were up in January. Butter and nonfat dry milk (NFDM) saw the least amount of movement while cheese blocks, barrels, and whey saw the biggest gains from last month. Of these commodities, cheese blocks and barrels were lower than their prices last year at this time, but butter, NFDM, and whey were up. These trends are shown in the graph below.

Chicago Mercantile Exchange: Selected Dairy Commodity Prices


The CME barrel price for cheddar cheese on January 23 was $1.46 per pound, up 6¾¢ from December but 21¢ below last year. Meanwhile, the CME 40-pound block price for cheddar cheese was $1.50 per pound, up
11¢ from last month, but 49¢ below last year.
The CME butter price on January 23 was $2.54½ per pound, up ½¢ from last month and 26¼¢ above last year.
The CME price for NFDM on January 23 was $1.19 per pound, up 3¢ from December, and 1¾¢ above last year.
The CME whey price on January 23 was $0.43½ per pound, up 5½¢ from last month and 10¾¢ above last year.

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