Market_Monitor_082823
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  • Spot dry whey climbed to $0.2850 per pound, adding a half cent, with one lot trading.
  • November whey futures increased to $0.3260 per pound, a bump of $0.0060.
  • Spot blocks were unchanged at $1.9450 per pound, with zero loads changing hands. Barrels remained at $1.8000 per pound, with no lots exchanged.
  • Fourth quarter Class III contracts eased to $18.37 per hundredweight, a loss of seven cents.
  • Fourth quarter “all cheese” futures dipped to $1.9210 per pound, giving up $0.0083.
  • Spot butter held steady at $2.6700 per pound, with zero loads trading.
  • The September butter contract declined to $2.6513 per pound, shedding $0.0188.
  • Spot NDM was unchanged at $1.1050 per pound, with four lots changing hands.
  • September NDM futures climbed to $1.1228 per pound, $0.0010 higher.
  • The September corn contract rose to $4.7850 per bushel, a gain of $0.0775. September soybean futures decreased to $13.9100 per bushel, losing $0.1025.

FROM THE TRADING DESK: Dairy markets were very quiet today, with no lots of cheese or butter exchanged. Nonfat and whey traded four and one lots, respectively, with whey inching up a half cent. This caused Class III futures to pull back slightly. All grain markets were up, except for wheat, after reports of drier-than-expected conditions in the Midwest. Cattle futures continue their bull run, setting new contract highs.