Thursday, November 10, 2022

Thursday Midday Dairy Market Summary - Futures Slip

OUTSIDE MARKETS SUMMARY:

CORN: 10 Lower
SOYBEANS: 25.25 Lower
SOYBEAN MEAL: $13.20 Lower
LIVE CATTLE: $1.33 Higher
DOW JONES: 500 Points Lower
NASDAQ: 890 Points Higher
CRUDE OIL: $0.98 Higher

MIDDAY MARKET UPDATE:

Block cheese jumped 7 cents, closing at $2.1350 with two loads traded. Barrels increased 3 cents to $2.0400 with two loads traded. Butter price was up 0.25 cent to $2.9050 with three loads traded. Grade A nonfat dry milk closed at $1.4000, up a penny and a half with two loads traded. Dry whey increased a half cent, closing at $0.4400 with two loads traded. Despite higher spot prices, Class III milk futures were 2 cents lower to 12 cents higher. Class IV futures were steady to 3 cents higher. Butter futures were 0.72 to 0.25 cents lower. Futures for dry whey were 0.05 to 0.60 cent lower.




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...