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.