Tuesday, March 12, 2024

Tuesday Midday Dairy Market Summary - Barrels Fall Below Blocks

OUTSIDE MARKETS SUMMARY:

CORN: 1 Higher
SOYBEANS: 11 Higher
SOYBEAN MEAL: $3.80
LIVE CATTLE: $0.52 Higher
DOW JONES: 153 Points Higher
NASDAQ: 177 Points Higher
CRUDE OIL: $0.05 Higher

MIDDAY MARKET:

Block cheese price remained unchanged at $1.4350 with no loads traded. There were two unfilled bids and one uncovered offer remaining at the close of spot trading. Barrel cheese price declined 4 cents, closing at $1.42 with four loads traded and one unfilled bid remaining. The dry whey price increased 0.50 cent, closing at 42 cents with no loads traded. Class III futures are steady to 12 cents lower with April posting the greatest loss. Butter price increased 3 cents, closing at $2.8325 with one load traded and 2 uncovered offers remaining at the close. Grade A nonfat dry milk price increased by 0.25 cent closing at 42 cents with no loads traded. Class IV futures have not yet been traded. Butter futures are 0.47 to 2.25 cents higher. Dry whey futures are 0.77 cent lower to 1.05 cents higher.




Friday Closing Dairy Market Update - October Milk Production Increased 3.7%

GENERAL OVERVIEW: Class III milk futures closed under pressure due to the declining cheese and dry whey prices. October milk producti...