Monday, May 8, 2023

Monday Midday Dairy Market Summary - Cheese Shows More Weakness

OUTSIDE MARKETS SUMMARY:

CORN: 4 Higher
SOYBEANS: 2 Lower
SOYBEAN MEAL: $2.90 Lower
LIVE CATTLE: $0.22 Higher
DOW JONES: 87 Points Lower
NASDAQ: 6 Points Higher
CRUDE OIL: $1.76 Higher

MIDDAY MARKET UPDATE:

Block cheese price remained unchanged at $1.6125 with no loads traded. A low bid was placed with no sellers showing any interest in the market today. Barrel cheese price declined 1.50 cents to close at $1.5150 with no loads traded. There was a low bid with three uncovered offers. Dry whey remained steady at 32.75 cents with no loads traded. Class III futures are mixed with futures 14 cents lower to 6 cents higher. Butter price declined 1.50 cents closing at $2.43 with one load traded and one uncovered offer remaining at the close. Grade A nonfat dry milk price remained unchanged at $1.1975 with no loads traded. Class IV futures are mixed from 2 cents lower to 5 cents higher. Butter futures are 0.40 cent lower to 1.50 cents higher. Dry whey futures are steady.




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...