Friday, May 13, 2022

Friday Midday Dairy Market Summary - Cheese, Butter Hold Steady

OUTSIDE MARKETS SUMMARY:

CORN: 5 Lower
SOYBEANS: 63 Higher
SOYBEAN MEAL: $7.00 Lower
LIVE CATTLE: $0.40 Higher
DOW JONES: 311 Points Higher
NASDAQ: 386 Points Higher
CRUDE OIL: $3.79 Higher

MIDDAY MARKET UPDATE:

Both block and barrel cheese prices remained unchanged at $2.3075 and $2.3950, respectively. There were no loads traded and no buyers or sellers showing up during spot trading. Butter price also remained unchanged at $2.7050 with no loads traded and no one showing up to do any business. Dry whey showed most of the pressure with price declining 2.25 cents, closing at 53.25 with four loads traded. This made another new low for the move, taking price down to the lowest level since Sept. 15, 2022. Grade A nonfat dry milk price increased 0.25 cent, ending at $1.73 with no loads traded. Class III futures are 20 cents lower to 20 cents higher. Class IV futures are 3 cents lower to 22 cents higher. Butter futures are 1.00 cents lower to 1.00 cents higher. Dry whey futures are 1.00 to 3.70 cents lower.




Friday Closing Dairy Market Update - USDA Releases Federal Milk Marketing Order Changes

MILK: Traders did not have much to go on for underlying spot prices. Cheese prices remained steady after a wild week of price moveme...