Dairy Markets Experience Mixed Performance as Milk Prices See Decline
Source: The DairyNews
On April 9, the dairy markets witnessed predominantly downward movement, with milk prices facing losses across various segments.
Here's a summary of the day's market activity:
Spot Blocks: Climbed to $1.5700 per pound, registering a gain of $0.0200, with 10 lots traded.
Barrels: Eased to $1.5625 per pound, dropping by half a cent, with three loads exchanged.
Class III Futures: Dropped to $18.02 per hundredweight, marking a loss of 14 cents for the third quarter.
May "All Cheese" Contract: Advanced to $1.6850 per pound, rising by 1.5 cents.
Spot Butter: Remained at $2.9700 per pound, with no lots exchanged.
May Butter Futures: Declined to $2.9815 per pound, shedding $0.0035.
Spot NDM (Non-fat Dry Milk): Dipped to $1.1350 per pound, easing by $0.0025, with three loads traded.
Additionally, at the latest GlobalDairyTrade Pulse event, Whole Milk Powder (WMP) prices rose to $3,241 per metric ton or $1.47 per pound, marking a 5.1% increase compared to the previous Pulse. Skim Milk Powder (SMP) also advanced to $2,550 per metric ton or $1.16 per pound, up 3.2% from the latest Pulse.
Furthermore, third quarter NDM contracts increased to $1.2131 per pound, while spot dry whey slipped to $0.3675 per pound, and third quarter dry whey futures settled at $0.4157 per pound.
In the grain markets, the May corn contract dipped to $4.3125 per bushel, while May soybean futures dropped to $11.7450 per bushel. Soybean meal also experienced a slight decline.
The energy complex witnessed profit-taking, leading to a sell-off in Crude Oil and Heating Oil, following recent highs in the sector.
Overall, the dairy markets displayed a mixed performance, with milk prices facing downward pressure amidst broader fluctuations in commodity markets.
Spot Blocks: Climbed to $1.5700 per pound, registering a gain of $0.0200, with 10 lots traded.
Barrels: Eased to $1.5625 per pound, dropping by half a cent, with three loads exchanged.
Class III Futures: Dropped to $18.02 per hundredweight, marking a loss of 14 cents for the third quarter.
May "All Cheese" Contract: Advanced to $1.6850 per pound, rising by 1.5 cents.
Spot Butter: Remained at $2.9700 per pound, with no lots exchanged.
May Butter Futures: Declined to $2.9815 per pound, shedding $0.0035.
Spot NDM (Non-fat Dry Milk): Dipped to $1.1350 per pound, easing by $0.0025, with three loads traded.
Additionally, at the latest GlobalDairyTrade Pulse event, Whole Milk Powder (WMP) prices rose to $3,241 per metric ton or $1.47 per pound, marking a 5.1% increase compared to the previous Pulse. Skim Milk Powder (SMP) also advanced to $2,550 per metric ton or $1.16 per pound, up 3.2% from the latest Pulse.
Furthermore, third quarter NDM contracts increased to $1.2131 per pound, while spot dry whey slipped to $0.3675 per pound, and third quarter dry whey futures settled at $0.4157 per pound.
In the grain markets, the May corn contract dipped to $4.3125 per bushel, while May soybean futures dropped to $11.7450 per bushel. Soybean meal also experienced a slight decline.
The energy complex witnessed profit-taking, leading to a sell-off in Crude Oil and Heating Oil, following recent highs in the sector.
Overall, the dairy markets displayed a mixed performance, with milk prices facing downward pressure amidst broader fluctuations in commodity markets.
