Tuesday, March 5, 2024

Tuesday Midday Dairy Market Summary - Cheese Continues to Decline

OUTSIDE MARKETS SUMMARY:

CORN: 4 Lower
SOYBEANS: 7 Lower
SOYBEAN MEAL: $5.10 Lower
LIVE CATTLE: $1.00 Higher
DOW JONES: 363 Points Lower
NASDAQ: 284 Points Lower
CRUDE OIL: $0.57 Lower

MIDDAY MARKET UPDATE:

Block cheese price declined by 3.75 cents, closing at $1.49 with six loads traded. Barrel cheese price declined by 2.25 cents, closing at $1.6250 with five loads traded. Dry whey price declined 1 cent, closing at 41.50 cents with no loads traded. Class III futures fell 3 to 32 cents with April taking the brunt of it. Butter price increased 1.75 cents, closing at $2.8275 with three loads traded. Grade A nonfat dry milk declined 2.75 cents, closing at $1.17 with two loads traded. Class IV futures are 10 cents lower. Butter futures are 1.15 cents lower to 2.97 cents higher. Dry whey futures are 0.15 to 1.57 cents lower.




Friday Closing Dairy Market Update - USDA Raises Estimated Milk Production

OVERVIEW: Class III milk futures held up well despite the further decline of cheese prices. Class IV futures showed little trading a...