Monday, March 6, 2023

Monday Midday Dairy Market Summary - Cheese Prices Diverge

OUTSIDE MARKETS SUMMARY:

CORN: Unchanged
SOYBEANS: 13 Higher
SOYBEAN MEAL: $10.70 Higher
LIVE CATTLE: $0.67 Higher
DOW JONES: 67 Points Higher
NASDAQ: 55 Points Higher
CRUDE OIL: $0.60 Higher

MIDDAY MARKET UPDATE:

Block cheese price declined 3.50 cents, closing at $1.9150 with two loads traded. Price did fall down to $1.8850 before buyers became more aggressive, bringing price off the low. Barrel price gained 6.50 cents, closing at $1.6375 with eight loads traded. Dry whey price remained unchanged at 44.50 cents. Class III futures are mixed, ranging from 6 cents lower to 8 cents higher. Butter price remained unchanged at $2.3450 with only an offer posted during spot trading and no sellers showing up to do any business. Grade A nonfat dry milk price remained unchanged at $1.1775 with no loads traded. Class IV futures have not yet traded. Butter futures are 1.50 cents lower to 0.40 cent higher. Dry whey futures are steady to 0.25 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...