Wednesday, November 24, 2021

Wednesday Midday Dairy Market Summary - Spot Trading Uneventful

OUTSIDE MARKETS SUMMARY:

CORN: Unchanged
SOYBEANS: 6 Lower
SOYBEAN MEAL: $5.50 Lower
LIVE CATTLE: $2.35 Higher
DOW JONES: 38 Points Lower
NASDAQ: 37 Points Higher
CRUDE OIL: $0.07 Lower

MIDDAY MARKET UPDATE:

Both block and barrel cheese remained unchanged during spot trading with no interest shown from buyers or sellers. Block price remained unchanged at $1.8575 with barrels at $1.5250. This left traders with little direction, keeping Class III futures steady to 16 cents lower. Butter followed suit with price unchanged at $1.99 with two loads traded. There was an unfilled bid and uncovered offer remaining at the close. Grade A nonfat dry milk price slipped 0.50 cent, closing at $1.5625 with four loads traded. Dry whey price remained unchanged at 70 cents with no loads traded. Class IV futures are 22 cents lower to 3 cents higher. Butter futures are 1.05 cents lower to 0.50 cent higher. Dry whey futures are 0.15 to 0.45 cent higher. Wednesday is the last day to trade dairy futures and options for the week. Markets will be closed Thursday for Thanksgiving and also on Friday.




Friday Closing Dairy Market Update - 2024 Milk Production Lower, But Herd Size Growing

MILK: Class III milk futures lost over 80 cents on the March contract this week, while Class IV lost over $1.40 from this time last week. We...