Friday, August 12, 2022

Friday Midday Dairy Market Summary - Milk Futures Fall Back

OUTSIDE MARKETS SUMMARY:

CORN: 1 Higher
SOYBEANS: 43 Higher
SOYBEAN MEAL: $14.20 Higher
LIVE CATTLE: $0.17 Lower
DOW JONES: 89 Points Higher
NASDAQ: 292 Points Higher
CRUDE OIL: $2.55 Higher

MIDDAY MARKET UPDATE:

Block cheese price increased 0.50 cent, closing at $1.8450 with two loads traded. Barrel cheese price declined 4 cents, closing at $1.8875 with four loads traded. This is certainly not what was wanted to be seen to end the week. Traders anticipated a decline as futures were significantly lower prior to spot trading and are under further pressure after spot trading. Dry whey price remained unchanged at 44 .50 cents with no loads traded. Class III futures are 51 cents lower to one cent higher. The only gain is seen in August as it is now basically priced by the trade. Butter price declined 4 cents, ending at $2.9350 with nine loads traded. Grade A nonfat dry milk price remained unchanged at $1.5175 with seven loads traded. Class IV futures have only traded in the October contract with price down 22 cents. Butter futures are 1.02 cents lower to 0.65 cent higher. Dry whey prices are steady to 0.50 cent higher. USDA increased estimated milk production for this year and next year.




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

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