MILK
The severe weather that took place around Christmas did not seem to impact milk production and delivery to any great extent. There were delays in hauling and shipping with farms having numerous issues, but that has been surpassed with the recent weather good for cow comfort. Milk is available for both bottling and processing. Spot milk is still reported to hold substantial discounts upwards of $10.00. It is uncertain how long large discounts will last but with increased milk production, it might be longer than anticipated. The December Federal Order class prices were announced with decreases in all categories. Class II price is $23.11, down $1.56 from November and the lowest price since January. Class III price is $20.50, down $0.51 from the previous month and the lowest price since September. Class IV price is $22.12, down $1.18 from November and the lowest price since December 2021.
AVERAGE CLASS III PRICES
| 3 Month: | $18.58 |
| 6 Month: | $18.71 |
| 9 Month: | $19.00 |
| 12 Month: | $19.20 |
CHEESE
Demand for cheese is steady to lighter in many areas from food service and retail customers. Exports continued to do well in November with demand up 12.9% from a year ago totaling 37,495 metric tons. Year-to-date exports are up 11.8% showing continued strong growth. It does not appear this trend will slow anytime soon. Whey exports increased 15.5% from a year ago totaling 50,467 metric tons. Year-to-date exports are up 8.9% from the same period last year.
BUTTER
Price continues to hold at $2.38 with the market either building support or holding until lower prices unfold if demand slows further. Exports in November remained strong increasing 101.4% above a year ago totaling 9,368 metric tons. Year-to-date exports are 47.9% above the same period a year ago. Nonfat dry milk/skim milk powder exports decreased 3.0% from a year ago totaling 70,401 metric tons with year-to-date exports down 7.1%. Whole milk powder exports in November totaled 2,957 metric tons, up 44.1% from November 2021. Year-to-date exports are up 1.1% from the same period last year.
OUTSIDE MARKETS SUMMARY
March corn declined a penny closing at $6.5275. January soybeans declined 11.50 cents ending at $14.6675 with January soybean meal up $6.20 per ton closing at $488.70. March wheat gained 1.25 cents ending at $7.4675. February live cattle gained $0.07 closing at $157.35. February crude oil gained $0.83 ending at $73.67. The Dow dropped 340 points closing at 32,930 while the Nasdaq declined 154 points closing at 10,305.
