Wednesday Midday Dairy Market Summary - Cheese Prices Remain Stable

OUTSIDE MARKETS SUMMARY:

CORN:	1 Higher
SOYBEANS:	7 Higher
SOYBEAN MEAL:	$18.10 Higher
LIVE CATTLE:	$0.47 Lower
DOW JONES:	94 Points Lower
NASDAQ:	27 Points Higher
CRUDE OIL:	$3.44 Higher

MIDDAY MARKET UPDATE:

Both block and barrel cheese prices remained unchanged Wednesday; no loads traded of blocks and three loads of barrels. However, even with the stability of cheese prices, Class III futures are under pressure. Contracts range from 70 cents lower to 5 cents higher. November shows the greatest loss while front-month July shows the only gain. Dry whey price declined a penny, closing at 46 cents with one load traded. This is the lowest dry whey price since Dec. 21, 2020. This provides added pressure on the market. Butter price declined 2.50 cents, closing at $2.94 with 15 loads traded. Grade A nonfat dry milk declined 1.50 cents at $1.71 with no loads traded. Class IV futures are 30 to 66 cents lower. Butter futures are 0.75 to 6.25 cents lower. Dry whey futures are mixed ranging from 1.47 cents lower to 1.27 cents higher.