Dairy markets found follow through strength on Tuesday following the bounce experienced on Monday.
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October 2022 Class III ended six cents stronger while November jumped 42 cents and December gained 26 cents.  2023 months closed the day in a mixed fashion ranging from 9 cents lower to 10 cents stronger.  Class IV was relatively flat for the most part.

CME spot dairy auction markets watched butter gain back 3.25 cents/lb to a settlement value of $3.21.  Barrels followed suit adding 1.75 cents to $2.2275/lb.  Blocks were unchanged on the day at $2/lb. Nonfat dry milk lost a half cent to $1.5375.  Whey suffered a 1.75 cent loss with its closing price at $0.4225/lb.

Event 317 of the Global Dairy Trade ended with the overall index suffering a 3.5% decline.  All products that were made available dropped with butter leading the charge falling 7% to a value of $2.205/lb.  Cheddar lost 3.8% to $2.2525/lb.  Skim milk powder softened 1.6% to $1.585/lb while whole milk powder declined 4% to $1.62/lb.

The grain complex watched corn add 2-4 cents/bu.  December corn ended at $6.83/bu.  Soybeans gained 10 cents to $13.83 while meal lost $4/ton and remains near $400/ton.  The wheat complex traded slightly lower on Tuesday.

Oceania Dairy wanted to install a packaging machine purchased from Spain during the pandemic lockdowns in 2021. But due to New Zealand’s travel restrictions, no one from abroad could assist with the installation.

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