Dairy | Milk Prices Inching Towards $21

Cheddar prices climbed 4.3% to $2.27/lb in Tuesday’s Global Dairy Trade.

Skim Milk Powder remained unchanged at $1.60/lb. Whole Milk Powder fell 3.6% to $1.55/lb. Butter was up 0.2% to $2.36/lb.

Class III milk prices came off its highs. September milk gained 53 cents to $20.88/cwt. October milk was up 19 cents to $20.98/cwt. 2023 class III milk prices were higher on the day. Class IV milk prices increased 7-43 cents in 2022.

Grain futures traded lower on the day. December corn took a nosedive of 18 cents, settling at $6.1025/bu. November soybeans fell 31 cents to $13.88/bu. December soybean meal dropped at $396.10/ton.

The livestock sector was mixed on the day. October live cattle added $1.87 to $145.67/cwt. September feeder cattle rallied $2.47 to $185.47/cwt. October lean hogs plunged $4.00 to $96.57/cwt. September crude oil dropped $2.41 to $87.00/barrel.

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Topics |
Dairy, Dairy Processors, Farmers, Global Dairy Trade, industry, Milk, Prices, production

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