Monday, September 18, 2023

Monday Midday Dairy Market Summary - Barrels Fall

OUTSIDE MARKETS SUMMARY:

CORN: 6 Lower
SOYBEANS: 23 Lower
SOYBEAN MEAL: $2.50 Lower
LIVE CATTLE: $0.57 Lower
DOW JONES: 32 Points Higher
NASDAQ: 84 Points Higher
CRUDE OIL: $0.31 Higher

MIDDAY MARKET UPDATE:

Block cheese price remained unchanged at $1.80 with no loads traded. There was no interest from buyers or sellers. Barrel cheese price plummeted 9 cents, closing at $1.72 with one load traded. This is the lowest price since July 21. There were three uncovered offers remaining at the close. The price of dry whey declined by a penny, closing at 29 cents with five loads traded. Class III futures were hit hard with contracts ranging from 3 cents to 37 cents lower. October and November are currently trading below $18. Butter price increased 5.25 cents, closing at $2.77 with three loads traded and three unfilled bids remaining at the close. Grade A nonfat dry milk price remained unchanged at $1.1125 with no loads traded. Class IV futures are 8 cents lower in three contract months. Butter futures are 2.97 cents lower to 1.35 cents higher. Dry whey futures are 0.35 -- 0.90 cent lower.





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