Wednesday, May 10, 2023

Wednesday Midday Dairy Market Summary - Cheese Finally Closes Higher

OUTSIDE MARKETS SUMMARY:

CORN:
9 Higher
SOYBEANS: 29 Higher
SOYBEAN MEAL: $5.60 Higher
LIVE CATTLE: $0.62 Higher
DOW JONES: 257 Points Higher
NASDAQ: 146 Points Higher
CRUDE OIL: $1.14 Higher

MIDDAY MARKET UPDATE:

Block cheese price increased 5.75 cents with price closing at 41.67 with three loads traded. Barrel cheese price gained 2 cents, closing at $1.5350 with 12 loads traded. It was interesting to see that there were five unfilled bids remaining at the closing price. Sellers did not lower offers to find a buyer like they did Tuesday which resulted in price falling back. Price remained at the high Wednesday. Dry whey declined a penny to 30.25 cents with 14 loads traded. Class III futures are unchanged to 41 cents higher with June posting the greatest gain. Trading volume has been light. Butter price remained unchanged at $2.3950 with no loads traded. Grade A nonfat dry milk price remained steady at $1.18 with no loads traded. Class IV futures are 11 cents lower to 10 cents higher. Butter futures are 0.10 to 0.50 cent higher. Dry whey futures are 0.17 cent lower to 0.20 cent higher.




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