Butter Buyers Came to the Table
Butter was the hot commodity this morning as buyers and sellers flocked to make deals today. Butter ended up trading 2.75 cents higher with a whopping 60 loads traded by the closing call. 3 bids were left several cents below the market and 2 reasonable offers were left standing after last call.
OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 1 Higher |
| SOYBEAN MEAL: | $0.02 Higher |
| LIVE CATTLE: | $1.75 Lower |
| DOW JONES: | 343 Points Higher |
| NASDAQ: | 57 Points Higher |
| CRUDE OIL: | $3.03 Lower |
MIDDAY MARKET UPDATE:
The block cheese price decreased 0.25 cents to close at $1.4875 with 2 loads traded. The barrel cheese price remained unchanged at $1.42 with no loads traded. The dry whey price closed unchanged at 68.00 cents with no loads traded. Class III futures are mixed at 9 cents lower to 5 cents higher. The butter price increased 2.75 cents to close at $1.6675 with 60 loads traded. Grade A nonfat dry milk decreased 3 cents to close at $1.7850 with 5 loads traded. Class IV futures are steady to 25 cents higher. Butter futures are 0.075 cents lower to 2.15 cents higher. Dry whey futures are 0.375 cents lower to 0.50 cent higher. Cheese futures are 0.4 cent lower to 0.2 cents higher.
Robin Schmahl can be reached at: rschmahl@agdairy.com
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