Thursday, March 16, 2023

Thursday Midday Dairy Market Summary - Butter Strengthens

OUTSIDE MARKETS SUMMARY:

CORN: 6.50 Higher
SOYBEANS: 0.25 Lower
SOYBEAN MEAL: $4.60 Lower
LIVE CATTLE: $0.95 Higher
DOW JONES: 336 Points Higher
NASDAQ: 242 Points Higher
CRUDE OIL: $1.00 Higher

MIDDAY MARKET UPDATE:

Cheese blocks slipped 0.75 cents, closing at $1.9525 with no loads traded. Barrels were unchanged at $1.8875 with no loads traded. Class III futures were unchanged to 13 cents lower. Butter price moved 2 cents higher to $2.4000 with four loads traded. Grade A nonfat dry milk remained at $1.1800 with two loads traded. Dry whey was up a penny, closing at $0.4600 with one load traded. Class IV milk futures haven't seen much trading. March and May 2023 contracts haven't moved yet, but April was up 4 cents. Dry whey futures are 0.20 to 1.25 cents higher. No trading yet for March butter futures, but April was up 0.98 cent and May was unchanged.




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...