Wednesday, November 18, 2020

Wednesday Midday Dairy Market Update - Blocks Continue to Crumble

 MIDDAY MARKET UPDATE:

Block cheese price continues to spiral downward, dropping 12.75 cents Wednesday to move to $1.6425. Blocks have now moved back in price to Aug. 12, when it had closed at $1.6050. Loads were purchased once the price fell considerably with buyers picking up 4 loads of blocks. Barrels held at $1.40 for a third day with 2 loads traded. Excluding December, Class III contract months have responded positively to buying interest in the spot market. Class III futures are 20 lower to 13 higher. Butter increased 1.25 cents to end at $1.3750 with one load traded. Grade A Nonfat dry milk added 0.50 cent to close at$1.0875 with 7 loads traded. Dry whey price declined for a second day, moving down 0.25 cent to 42 cents with one load traded. Class IV futures are 2 cents lower to 11 higher. Butter futures are 1.03 cents lower to 45 cents higher. Dry whey futures are 0.03 cent lower to 0.93 higher. The October Milk Production Report will be released Wednesday afternoon.



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