Thursday, January 26, 2023

Thursday Midday Dairy Market Summary - Cheese Prices Rebound

OUTSIDE MARKETS SUMMARY:

CORN: 8 Higher
SOYBEANS: 19 Higher
SOYBEAN MEAL: $10.50 Higher
LIVE CATTLE: $0.72 Lower
DOW JONES: 125 Points Higher
NASDAQ: 127 Points Higher
CRUDE OIL: $1.09 Higher

MIDDAY MARKET UPDATE:

Block cheese price increased 4.25 cents closing at $1.96 with one load traded and 2 unfilled bids remaining at the close. Barrel cheese price increased 1.75 cents, closing at $1.59 with 22 loads traded and one unfilled bid remaining. Dry whey price declined 1.75 cents closing at 31.25 with 7 loads traded. This is the lowest price since August 13, 2020. Class III futures are 1 cent lower to 19 cents higher. Butter price remained unchanged at $2.2675 with no loads traded. Grade A nonfat dry milk price slipped 0.25 cents ending at $1.1625 with one load traded. Class IV futures have only traded in the May contract, posting a loss of 24 cents. Butter futures are 0.10-1.25 cent higher. Dry whey futures are steady to 1.00 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...