MILK
Class III Milk futures settled 30 cents higher, making up for the last two trading days' losses after USDA estimated milk production for this year was reduced by 500 million pounds from the last report, now at 227.9 billion points. USDA 2023 Average Dairy prices for Class III 16.90, up 85 cents from July projections. 2024 at 16.55, up 60c from July.
AVERAGE CLASS III PRICES
| 3 Month: | $17.84 |
| 6 Month: | $18.05 |
| 9 Month: | $18.10 |
| 12 Month: | $18.16 |
CHEESE
Block cheese prices increased 2.25 cents, closing at $1.99 with three loads traded. The barrel cheese price increased 2.25 cents, closing at $1.8250 with one load traded. The USDA average 2023 cheese price was $1.775, up 10 cents from July. 2024 projected price was at $1.755, up from $1.690 in July.
BUTTER
Butter unchanged from Thursday at $2.69, as no loads traded. USDA's projected butter prices for 2023 is $2.495, up 6 cents from July. 2024 projected price is at $2.43, up from $2.345 in July.
OUTSIDE MARKETS SUMMARY
December corn closed down 9 cents per bushel at $4.8725, November soybeans closed down 10.75 cents at $13.0750 and December soybean meal closed down $5 per ton at $388.700. September Chicago wheat closed down 11 cents at $6.2675. October live cattle closed down $1.20 at $181.325. September crude oil is up $0.37 per barrel at $83.19. The Dow Jones Industrial Average is up 105 points at 35,281 with the NASDAQ down 93 points at 13,664.
