Wednesday, May 17, 2023

Wednesday Midday Dairy Market Summary - Cheese Slowly Climbs Higher

OUTSIDE MARKETS SUMMARY:

CORN: 22 Lower
SOYBEANS: 24.25 Lower
SOYBEAN MEAL: $1.00 Lower
LIVE CATTLE: $0.76 Higher
DOW JONES: 420 Points Higher
NASDAQ: 141 Points Higher
CRUDE OIL: $2.33 Higher

MIDDAY MARKET UPDATE:

Cheese blocks continue to rise, moving 3.50 cents to $1.5400 with eight loads traded. Barrels were up 0.75 cent to $1.4550 with 12 loads traded. Class III futures were down 10 cents to 4 cents higher. Butter price increased 2.25 cents to close at $2.4600 with four loads traded. Class IV futures have yet to be traded Wednesday. Grade A nonfat dry milk was unchanged, closing at $1.1650 with no loads traded. Dry whey price fell a penny to $0.2875 with 13 loads traded. Dry whey futures were unchanged to 0.25 cent lower. Butter futures were 0.75 cent lower to 0.25 cent higher.




Reformulated milk prices take effect

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