Friday, December 23, 2022

Friday Midday Dairy Market Summary - Cheese Up, Butter Down

OUTSIDE MARKETS SUMMARY:

CORN: 6 Higher
SOYBEANS: 13 Higher
SOYBEAN MEAL: $2.10 Higher
LIVE CATTLE: $1.15 Higher
DOW JONES: 124 Points Higher
NASDAQ: 11 Points Lower
CRUDE OIL: $2.05 Higher

MIDDAY MARKET UPDATE:

Block cheese price increased 5 cents, closing at $2.1225 with one load traded and an unfilled bid remaining at the close. Barrel price increased 3.50 cents, closing at $1.7950 with nine loads traded. There were no unfilled bids or uncovered offers remaining with buyers and sellers taking care of the business they wanted to accomplish. Dry whey price remained unchanged at 38.50 cents with no loads traded. Class III futures are following a similar pattern as Thursday with nearby months higher while later months have not traded or are lower. Traders remain bearish over milk prices. The belief is that the price strength this week will be short-lived. Butter price fell after a day of stability. Price declined 8 cents, closing at $2.3950 with one load traded. This does not bode well for the market. There were five uncovered offers remaining at the close with no unfilled bids. Grade A nonfat dry milk price remained unchanged at $1.33 with no loads traded. Class IV futures have not yet traded, Butter futures are 0.45 to 4.15 cents lower. Dry whey futures have not yet traded.




Wednesday Closing Dairy Market Update - Milk, Cheese Trading Strong; March Dairy Exports Decline

MILK Milk production is mixed across the country with a few areas moving past the spring flush to see production holding steady. Oth...