Monday Midday Dairy Market Summary - Butter Futures Fall

OUTSIDE MARKETS SUMMARY:

CORN:	1 Lower
SOYBEANS:	6 Higher
SOYBEAN MEAL:	$0.25 Lower
LIVE CATTLE:	$1.125 Lower
DOW JONES:	478 Points Lower
NASDAQ:	802 Point Lower
CRUDE OIL:	$2.71 Higher

MIDDAY MARKET UPDATE:

The block cheese price increased by 0.25 cents to close at $1.60 with no loads traded. The barrel cheese price was unchanged at $1.7250 with no loads traded. Dry whey was unchanged at 84.0 cents with no loads traded. Class III futures are 22 to 34 cents higher. The butter price decreased by 2.5 cents, closing at $1.3325 with 11 loads traded. There were 25 bids and 10 offers remaining at the close. Grade A nonfat dry milk increased 1.25 cents to close at $2.1250 with no loads traded. There were 5 bids and 3 offers left at the close. Class IV futures have not yet been traded today. Butter futures are 2.75 to 6.125 cents lower. Dry whey futures are 0.85 to 1.25 cents higher. Cheese futures are 0.6 to 2.3 cents lower. Nonfat dry milk futures are 0.95 to 4.4 cents higher. 

Monday Morning Dairy Market Update - Will Spot Market Drive November Prices?

OPENING CALLS:

Class III Milk Futures:	15 to 30 Higher
Class IV Milk Futures:	Mixed
Butter Futures:	Mixed

OUTSIDE MARKET OPENING CALLS:

Corn Futures:	3 to 4 Higher
Soybean Futures:	1 to 3 Lower
Soybean Meal Futures:	$1.00 to $1.30 Higher
Wheat Futures:	1 to 3 Higher

MILK:

Overnight markets are trading 15 to 26 cents higher for Class III futures. Class IV futures have not yet been traded. This week, there are several reports to prepare for. The Global Dairy Trade will take place Tuesday. The September exports data will be released on Wednesday, along with Federal Order Class and Component Prices. Thursday will bring the final report of the week with the September Dairy Products report.

CHEESE:

A sharp decline in cheddar cheese blocks Friday during the spot market was unexpected given the recent strength. Last week, the government announced a new plan to purchase $165.5 million worth of milk and cheese products to help feed Americans in need. The last time a product of much larger scale was implemented, back in 2020, it had a very positive effect on dairy prices. Futures are trading higher for cheese Monday morning with overnight markets climbing 1.6 to 2.4 cents higher.

BUTTER:

Butter demand has been stronger in the West while steady across the rest of the country. We have yet to see a major impact on price from holiday demand as inventories have been steady. There is plenty of cream available and most manufacturers are running six days a week. The preparation for the holiday season is here, and now the market awaits to see how strong that demand will be.

Friday Closing Dairy Market Update - September Agricultural Prices Received Index Down 1.7 Percent

GENERAL OVERVIEW:

USDA released the Agricultural Prices monthly report which indexes prices received for commodities as well as the Prices Paid Index, which calculates the costs paid for interest, taxes wages, diesel and feeds. The September Prices Received Index was down 1.7% while the Prices Paid Index was up 0.4%.

MILK:

Class III futures closed the week off, trading 3 to 23 cents lower this afternoon. The November contract fell 23 cents from Monday's settlement. Class IV was up 13 cents on the week while dry whey was nearly unchanged at 0.10 cents higher, and NDM 6.62 cents higher. The September Prices Received Index was 1.7% lower than August but 0.5% higher than September of last year. The Crop Production Index was up 3.7% from last month but up 15% from 2025. Livestock was down 4.4% from August and down 10% from last year. Producers received lower prices for cattle, eggs, hogs, and milk but more for corn. There was decreased monthly movement for cattle, wheat and other products but an increase in movement for corn, soybeans, calves and apples. The September Prices Paid Index was up 0.4% from last month and 5.2% higher than last year. Diesel fuel, complete feed, other services and concentrates were up a higher degree than the amount paid was reduced for lower hay, forages, feeder cattle, feeder pigs and herbicide. Overall, for dairy farms, prices received were lower and prices paid were higher.

AVERAGE CLASS III PRICES:

3 Month:	$16.54
6 Month:	$16.70
9 Month:	$16.88
12 Month:	$17.10

CHEESE:

For the week, the block cheese price decreased by 3.75 cents with 15 loads traded. The weekly average price was $1.7095, down $2.90 from last week. The barrel cheese price closed 0.50 cents higher with no loads traded. The weekly average price was $1.7230, up 1.90 cents from last week. The dry whey price decreased by 0.25 cents with 3 loads traded. The weekly average price is 83.10 cents, down 4.25 cents from last week.

BUTTER:

For the week, the butter price increased by 1.75 cents with 46 loads traded. The weekly average price was $1.3145, down 3.45 cents from last week's average. Grade A nonfat dry milk increased 1.75 cents with 7 loads traded. The weekly average price was $2.0720, down 8.30 cents from last week's average.

OUTSIDE MARKETS SUMMARY:

December live cattle closed down $5.35 at $220.95. December crude oil is up .99 per barrel at $102.99. The Dow Jones Industrial Average is down 572 points at 51,770 and the NASDAQ is down 747 points at 25,43