Thursday, March 3, 2022

Thursday Midday Dairy Market Update - Cheese Prices Gain Momentum

OUTSIDE MARKETS SUMMARY:

CORN: 34 Higher
SOYBEANS: 22.50 Higher
SOYBEAN MEAL: $9.70 Higher
LIVE CATTLE: $1.65 Lower
DOW JONES: 68 Points Higher
NASDAQ: 107 Points Lower
CRUDE OIL: $0.97 Lower

MIDDAY MARKET UPDATE:

Block cheese price saw a 4.75 cent increase to $2.1025 with two loads traded. Barrels jumped 5 cents to close at $1.9700 with five loads traded, the highest it's been since November 2020. Butter moved 2.25 cents higher to $2.7000 with 10 loads traded. Grade A nonfat dry milk was unchanged from Wednesday, closing at $1.8750 with 1 load traded. Dry whey gained 1.50 cents, closing at $0.7550 with no loads traded. Class III milk futures are 12 cents lower, while Class IV is up to 5 cents higher. Butter futures are 7.75 cents to 1.5 dollars higher. Dry whey futures are 2.50 to 6.50 cents lower. Friday the Dairy Products report is released.




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...