Wednesday, June 15, 2022

Wednesday Midday Dairy Market Summary - Cheese Prices Bounce

OUTSIDE MARKETS SUMMARY:

CORN: 5 Higher
SOYBEANS: 3 Lower
SOYBEAN MEAL: $6.90 Higher
LIVE CATTLE: $2.62 Higher
DOW JONES: 181 Points Higher
NASDAQ: 190 Points Higher
CRUDE OIL: $1.81 Lower

MIDDAY MARKET UPDATE:

Block cheese price gained 4 cents being pushed higher on an unfilled bid. Price closed spot trading at $2.2250. Barrel cheese price increase 3.50 cents closing at $2.21 with two loads traded. Dry whey price slipped 0.50 cent closing at 51 cents with four loads traded. Class III futures were lower prior to spot trading with prices now ranging from 27 cents lower to 7 cents higher. Butter price declined 1 cent, closing at $2.97 with six loads traded. Grade A nonfat dry milk price slipped 0.25 cent closing at $1.8175 with no loads traded. Class IV futures have not yet traded. Butter futures are 1.17, 3.00 cents higher. Dry whey futures are 3.50 cents lower to 1.00 cents higher.




Wednesday Closing Dairy Market Update - Light Trading Activity Was the Order of the Day

GENERAL OVERVIEW: Class III milk futures were mostly lower, with traders seeing limited volatility. Trading volume was light. Class IV...