Thursday, November 2, 2023

Thursday Midday Dairy Market Summary - Milk Futures Post Gains

OUTSIDE MARKETS SUMMARY:

CORN: 4 Lower
SOYBEANS: 11 Higher
SOYBEAN MEAL: $4.50 Lower
LIVE CATTLE: $0.95 Higher
DOW JONES: 474 Points Higher
NASDAQ: 210 Points Higher
CRUDE OIL: $2.25 Higher

MIDDAY MARKET UPDATE:

Block cheese price increased 1.50 cents, closing at $1.70 with two loads traded. Barrel cheese price remained unchanged at $1.6725 with no loads traded. There was an offer for a load of blocks and an offer for a load of barrels at the close of the day. Dry whey price increased 0.75 cent, closing at 37.25 with seven loads traded. Class III futures are unchanged to 18 cents higher with December showing the greatest gain. Butter price declined 2.25 cents, closing at $3.12 with no loads traded and only one offer remaining at the close. Grade A nonfat dry milk price closed down 0.25 cent at $1.1850 with one load traded. Class IV futures are 3 cents lower to 7 cents higher. Butter futures are 3.97 cents lower to 0.75 cent higher. Dry whey futures are 1.45 to 1.95 cents higher.




Monday Closing Dairy Market Update - October Cheese and Butter Inventories Declined

MILK: Traders were uncertain as to how to interpret the moving of spot prices today. Pressure was put on Class III futures after spo...