Milk Prices Continue to Tumble
Know Your Market
July 14, 2022
Steady selling pressure was seen in Thursday’s spot dairy product trade. Block cheese fell 5.25 cents to $2.0575. Barrel cheese lost 6.50 cents to $2.1050/lb. Whey was unchanged at $0.46/lb. Butter gave up 4 cents to $2.90/lb. NFDM dropped 3.50 cents to $1.6750/lb.
Milk futures continued to tumble. August class III milk slid 63 cents to $20.32/cwt. September milk crashed 57 cents to $20.40/cwt. Class IV milk futures were lower as well.
The grain market was a mixed bag. December corn gained 5.75 cents to $6.01/bu. November soybeans fell 8.50 cents to $13.41/cwt. December soybean meal inched $0.10 higher to $402.60/ton.
The livestock market was lower across the board. August live cattle finished $1.47 lower to $135.40/cwt. August feeder cattle erased $1.90 to $178.90/cwt. August lean hogs pushed 92 cents lower to $109.57/cwt. August crude oil increased 31 cents to $96.61/cwt.