Wednesday, November 15, 2023

Wednesday Midday Dairy Market Summary - Blocks Back Off

OUTSIDE MARKETS SUMMARY:

CORN: 9 Lower
SOYBEANS: 9 Lower
SOYBEAN MEAL: $8.10 Lower
LIVE CATTLE: $1.95 Higher
DOW JONES: 159 Points Higher
NASDAQ: 23 Points Higher
CRUDE OIL: $1.44 Lower

MIDDAY MARKET UPDATE:

Block cheese price declined 2.75 cents, closing at $1.62 with seven loads traded. Barrel cheese price remained steady at $1.68 with no loads traded. There was an unfilled bid for a load of blocks and two uncovered offers for barrels at the close. Dry whey price slipped 0.50 cent, ending at 41.50 with two loads traded. Class III futures were steady to 18 cents lower. Butter price remained unchanged at $2.69 with no loads traded. No buyers or sellers showed up during spot trading. Grade A nonfat dry milk price declined 2 cents, ending at $1.20 with five loads traded. Class IV futures are 8 to 20 cents higher. Butter futures were steady to 6.25 cents higher. Dry whey futures are 0.10 to 1 cent higher.




Tuesday Closing Dairy Market Update - June Butter and Cheese Production Increased Over Last Year

OVERVIEW: Class III milk futures have exhibited strength over the past four days as cheese prices found support. Butter has not foll...