Friday, May 5, 2023

Friday Midday Dairy Market Summary - Cheese Cannot Find Support

OUTSIDE MARKETS SUMMARY:

CORN: 5 Higher
SOYBEANS: 17 Higher
SOYBEAN MEAL: $2.00 Higher
LIVE CATTLE: $0.35 Higher
DOW JONES: 440 Points Higher
NASDAQ: 245 Points Higher
CRUDE OIL: $2.71 Higher

MIDDAY MARKET UPDATE:

Block cheese price fell 5.25 cents closing at $1.6125 with 19 loads traded. There were three unfilled and three uncovered offers remaining. Barrel cheese price declined 1.75 cents closing at $1.53 remaining at the close with one unfilled bid remaining at the close. Dry whey price declined a penny closing at 32.75 with 10 loads traded and eight unfilled bids remaining at the close. Class III futures are 13 cents lower to one cent higher. Butter price increased 0.25 cent closing at $2.4450 with no loads traded. Grade A nonfat dry milk increased 0.50 cent ending at $1.1975 with four loads traded. Class IV futures are 5 cents higher in the November contract, which is the only contract traded. Butter futures are 1.25 cents lower to 2.10 cents higher. Dry whey futures are 0.15 lower to 1.75 cents higher. USDA will release the March Dairy Products report this afternoon.




August Milk Production in the United States down 0.1 Percent

August Milk Production up 0.1 Percent          Milk production in the 24 major States during August totaled 18.1 billion pounds, up 0.1 perc...