Class III futures started Thursday with negativity but have worked back up a bit after gains in both spot blocks and barrels. Blocks gained 4 cents to move to $1.69 with two loads traded. Blocks are now trading just below the most recent high of $1.73 from Jan. 20, 2021. Barrels also worked higher, adding 4.40 cents to climb to $1.4650 with three loads traded. Butter closed down 1.25 cents at $1.6775 with seven loads traded. Grade A NDM increased 0.50 cent to $1.1775 with 2 loads traded. Dry whey jumped 1.50 cents to move to a new spot trading price record of $0.58 with two loads traded. Class III futures are down 17 cents to 2 cents higher. Class IV futures in March have dropped back 40 cents while contracts in the third quarter have moved 9 to 10 cents higher. Contracts in between are unchanged. Butter futures are unchanged to 2.10 cents lower. Dry whey futures are unchanged to 2.76 cents higher. The January Dairy Products Production Report will be released Thursday.
