# Monday Morning Huddle - 3 April 2023 - HighGround Dairy

> CME spot cheese fell after a two-week rally, with blocks down 25 cents on three loads traded. Butter was the most heavily traded spot product, while nonfat dry milk hit a two-year low near $1.1475 per pound and whey eased.

- Date: 2023-04-03 · published 2023-04-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/12308-monday-morning-huddle-3-april-2023-highground-dairy
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Cheese production exceeding demand and weak powder demand point to lower dairy product values, which reduces milk prices and the dairy-side demand for feed ingredients.

## Read by commodity

- MILK: bearish ▼

## Sources

- highgrounddairy.com: https://www.highgrounddairy.com/monday-morning-huddle-3-april-2023/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.