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HighGround Dairy's weekly podcast reports spot whey hit a 2023 low near $0.30/lb and cheddar blocks fell to $1.53/lb, the lowest since July 2021. Spot basis in the upper Midwest stayed $4 to $12 below Class prices, and slaughter rates were up 4.8% year to date.
Weak spot cheese and whey prices and deep basis discounts squeeze producer margins, signaling soft dairy-based feed demand.
highgrounddairy.comMarket Intel TeamMay 12, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
