MILK:
Class III milk futures were unchanged to 10 cents higher, October reaching over the $22 mark. Class IV settled 7 cents to 29 cents higher. Hurricane Ian has greatly impacted some areas in Florida dependent on dairy farming, but overall output in farm level milk production saw an uptick.
AVERAGE CLASS III PRICES:
| 3 Month: | $21.80 |
| 6 Month: | $21.24 |
| 9 Month: | $21.03 |
| 12 Month: | $20.93 |
CHEESE:
Cheese barrels saw some active trading. Spot price was at $2.2500, increasing 2.75 cents with 10 loads traded. Blocks were up 0.75 cents to $2.0300 with 3 loads traded. For the week ending October 1st, the average price of block cheese was $1.99 per pound. This is a 9.5-cent increase from the previous week. Barrels jumped 10.3 cents to average $2.11 per pound. Despite higher prices, consumers are still getting their hands on it to prepare for upcoming feasts and fall games.
BUTTER:
Butter has been steadily increasing in price this week. Spot price increased 2.75 cents to $3.2675 with 6 loads traded. The average price for the week ending October 1 was $3.14 per pound, declining 3.7 cents from the previous week. Nonfat dry milk average was $1.57 per pound, increasing 0.1 cents. Dry whey averaged 48.9 cents per pound, unchanged from the previous week. Hurricane Ian hindered the Southeast, forcing loads of cream back north. Production is very scattered in that area.
OUTSIDE MARKETS SUMMARY:
Corn futures for December settled at $6.7550 per bushel, down 8.50 cents. November soybeans declined 11.75 cents to $13.5800 per bushel. October soybean meal declined $5.10 to $397.40 per ton. December wheat dropped 23 cents to $8.7900. Live cattle futures for October were up $0.65 cents to $145.32. November crude oil was up $1.14 to $88.90 per barrel. The DOW declined 346 points to 29,926, and NASDAQ fell 75 points to 11,073.
