DTN Midday Dairy Comments
Not a lot of activity in the cash trade today. Non-fat dry milk was lower but more notably. Butter traded unchanged, at least stopping the bleeding from last week's and Tuesday's quest for new lows. July income over feed is lower at $10.94, down from $11.10 in June.
DTN Midday Dairy Comments
OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 8 Lower |
| SOYBEAN MEAL: | $0.12 Lower |
| LIVE CATTLE: | $1.10 Lower |
| DOW JONES: | 179 Points Lower |
| NASDAQ: | 194 Points Higher |
| CRUDE OIL: | $1.62 Lower |
MIDDAY MARKET UPDATE:
The block cheese was unchanged at $1.7650 with no loads traded. The barrel cheese price remained steady at $1.78 with no loads traded. There were two offers unfulfilled at the close, one for blocks and one for barrels. The dry whey price remained unchanged at 57 cents with no loads traded and only two offers. Class III futures are 11 to 25 cents lower. The butter price is unchanged, closing at $2.0125 with two loads traded. There were two remaining bids and two offers left at the close. Grade A nonfat closed 2.5 cents lower, at $1.2350 with two loads traded, and two bids and four offers were left standing. Class IV futures are mixed, trading 2.5 cents lower to 3.3 cents higher. Butter futures are 0.70 to 1.975 cents lower. Dry whey futures are 0.275 cents to 0.525 cents lower.
Robin Schmahl can be reached at: rschmahl@agdairy.com
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