Economic - Markets

Milk Prices Tank Ahead of Thanksgiving

Dairy Markets tumbled into the Thanksgiving Holiday and struggled to find a buyer. As we wrap up the short holiday trading week, Class III milk lost big. November Class III milk gained a penny to $21.04, but December fell 69 cents to $20.31/cwt. January followed, losing 38 cents to $20.06 with the balance of 2023 falling 5-18 cents.

Class IV milk also struggled. November was unchanged at $23.35, December fell 37 to $21.32 and January slid 12 cents to $20.78.

The CME spot trade was mixed. Butter gained 1 ¾ cents to $2.94 ¾ with 6 loads trading. Cheddar Barrels gained 1 ¼ cents to $1.81 ¾ but Blocks dropped 5 cents to $2.015/lb.

Grade A Non Fat Dry milk fell 2 cents lower to $1.39 ¾ with Dry whey holding unchanged at $0.44/lb.

Grain and Feed markets found some support despite Crude oil fall as much as $4/ barrel and sliding below $80. Corn gained 6 ½ cents to $6.63 ¼, Soybeans gained 6 ¼ cents to $14.36 even and Soybean meal gained $1.10 to $409.70/ton.

Dairy markets are closed Friday in observance of US Thanksgiving. All of us at Ever.Ag with you a safe and happy holiday.

With Ever.Ag this is Jenny Wackershauser on Know your Markets.

Source: Collect

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Economic - Markets

Milk Prices Tank Ahead of Thanksgiving

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