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.