Dairy in the World

Milk Prices Finally Add a Bit of Green

Light volume trade was witnessed in the dairy space on Friday. Just 350 contracts were traded in the most active Class III month of October. Futures markets added 16 to 45 cents in the 2022 months while 2023 saw Q1 gain 23-30 cents, Q2 was relatively unchanged, and Q3 lost 5-14 cents. Class IV markets in Q4 2022 jumped 30-50 cents. Many early 2023 months were up double digits as well.

CME spot product markets closed with slight support. Block cheese grew 3 cents to $1.765/lb. Barrels rose a quarter cent to $1.8575/lb. Butter traded 5 loads and three quarters of a cent stronger to $3.10/lb. Grade A nonfat dry milk remained unchanged. Dry whey lost a half cent to $0.465/lb.

Grains took back some of the losses from earlier in its week. December corn traded 7.75 cents/bu higher to $6.6575/bu. Soybeans added 25 cents while soybean was up $3/ton. The wheat complex ranged from 2 - 17 cents in the green.

Source: Collect

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Dairy in the World

Milk Prices Finally Add a Bit of Green

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