Thursday, June 29, 2023

Thursday Midday Dairy Market Summary - No Bottom in Milk Futures Yet

OUTSIDE MARKETS SUMMARY:

CORN: 16 Lower
SOYBEANS: 28 Higher
SOYBEAN MEAL: $0.20 Higher
LIVE CATTLE: $0.40 Higher
DOW JONES: 181 Points Higher
NASDAQ: 45 Points Lower
CRUDE OIL: $0.17 Higher

MIDDAY MARKET UPDATE:

Block cheese price remained unchanged at $1.33 with nine loads traded. Price initially moved 0.25 cent higher but could not hold. Barrel cheese price declined 3.25 cents, closing at $1.35 with 15 loads traded. Dry whey price declined a penny with price at 23.35 and 12 cents lower. Class III futures 28 cents lower to 4 cents higher. Butter price remained unchanged at $2.44 with four loads traded. Grade A nonfat milk price gained 0.25 closing at $1.12 with six loads traded. Class IV futures are 17 cents lower to 11 cents higher. Butter futures are 1.30 cents lower to 1.00 cents higher. Dry whey futures are 0.67 to 1.30 cents lower.




Monday Closing Dairy Market Update - Milk Futures Post Strong Gains

OVERVIEW: Milk futures moved higher in response to the strength of the underlying cash. Class III futures were unable to hold the hi...