Economic - Markets

Stock Market Shoots Up, Milk Prices Not-So-Much

Friday markets were quiet as we head into the weekend. As the DOW Jones had a big day, gaining back over 800 points and Crude Oil moved back over $88/barrel, back to levels pushing towards early October highs. Grain markets finished mixed with Soybean meal leading the way, gaining $10 to $425.40/ton, but corn slid 1 ½ cent to $6.80 ¾ and soybeans finishing the week at $13.87 3/4/bu.

The CME spot trade was relatively mixed. Butter fell half a penny to $3.14/lb, Grade A Non Fat Dry Milk gained a penny to $1.43/lb. Cheese was unchanged with Cheddar Blocks at $1.96/lb and Barrels at $1.92 ½, Dry Whey also unchanged at $0.43/lb.

Class III milk was unchanged in October at $21.83/cwt, Nov down 18 to $20.21, and Dec up a penny to $18.81/cwt. January 2023 forward was 15 lower to 2 cents higher, mostly unchanged.

Class IV milk was fairly unexciting. October gained 2 cents to $24.97, November fell 4 cents to $23.65, and December gained 8 to $21.25/cwt. 2023 traded from 11 lower to even.

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

Source: Collect

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Economic - Markets

Stock Market Shoots Up, Milk Prices Not-So-Much

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