# Let's Chat Markets - 12 May 2023 - HighGround Dairy

> 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.

- Date: 2023-05-12 · published 2023-05-12T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/36099-let-s-chat-markets-12-may-2023-highground-dairy
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Weak spot cheese and whey prices and deep basis discounts squeeze producer margins, signaling soft dairy-based feed demand.

## Read by commodity

- MILK: bearish ▼

## Sources

- highgrounddairy.com: https://www.highgrounddairy.com/podcast-lcm-140/

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