Dairy futures marked by regional differences

This week, dairy futures have differed strongly across the different regions. On the CME, most contracts moved down, except for SMP C1–C3, C5, and C6. Whey C1, Cheese C1, and Milk Class III C1 and C6 all moved up. In the CME spot market, prices increased for all commodities except butter, which moved down. On SGX, most contracts moved up. The exceptions were SMP C4–C6 and Butter C5–C6, which moved down. On EEX, most contracts also moved up. However, SMP C3–C6, Butter C3–C6, and Butter C1 moved down, while Whey C1–C2 remained unchanged. Liquid milk C1 also moved down.