Thursday, July 7, 2022

Thursday Midday Dairy Market Summary - Milk Futures Post Strong Gains

OUTSIDE MARKETS SUMMARY:

CORN: Unchanged
SOYBEANS: 25 Higher
SOYBEAN MEAL: $8.50 Higher
LIVE CATTLE: $0.25 Higher
DOW JONES: 270 Points Higher
NASDAQ: 246 Points Higher
CRUDE OIL: $5.10 Higher

MIDDAY MARKET UPDATE:

Block cheese price remained unchanged at $2.0850 with no loads traded. Barrel cheese price increased 2 cents closing at $2.1875 with two loads traded. No one showed up to do any business in blocks with two bids and one offer remaining for barrels at the close. Dry whey price remained unchanged at 49 cents with no loads traded. Butter price also remained unchanged with price at $2.94 with no loads traded and an offer remaining at the close of trading. Grade A nonfat dry milk price increased 1.25 cents closing at $1.7525. Class III futures are 1-66 cents higher. Class IV futures are 10-50 cents higher. Butter futures are 1.17 –- 5.22 cents higher. Dry whey futures are 0.05 cent lower to 0.02 cent higher.




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...