Friday, June 10, 2022

Friday Midday Dairy Market Update - Spot Prices Fall Back

OUTSIDE MARKETS SUMMARY:
CORN: Unchanged
SOYBEANS: 16 Lower
SOYBEAN MEAL: $2.60 Higher
LIVE CATTLE: $0.70 Lower
DOW JONES: 731 Points Lower
NASDAQ: 391 Points Lower
CRUDE OIL: $1.11 Lower

MIDDAY MARKET UPDATE:

Block cheese price declined 2 cents, closing at $2.2550 with one load traded. Barrel cheese price fell 6.25 cents closing at $2.2425 with nine loads traded. There was an offer for a load of blocks and offers for two loads of barrel remaining at the close. Dry whey price remained unchanged at 54.25 cents with no loads traded. This has resulted in Class III futures ranging from 34 cents lower to one cent higher. The only increase being in May 2023. Butter price declined 2.50 cents, ending at $2.9750 with five loads traded. Grade A nonfat dry milk price declined 1.50 cents, closing at $1.8550 with one load traded. Class IV futures only show trading activity in September with price down 27 cents. Butter futures are 0.52 to 4.10 cents lower. Dry whey futures are steady to 0.77 cent lower. USDA decreased estimated milk production on the World Agricultural Supply and Demand report.




Monday Closing Dairy Market Update - October Cheese and Butter Inventories Declined

MILK: Traders were uncertain as to how to interpret the moving of spot prices today. Pressure was put on Class III futures after spo...