Tuesday, March 19, 2024

Tuesday Midday Dairy Market Summary - Nonfat Dry Milk Declines

OUTSIDE MARKETS SUMMARY:

CORN: 3 Higher
SOYBEANS: 4 Lower
SOYBEAN MEAL: $1.30 Higher
LIVE CATTLE: $0.52 Lower
DOW JONES: 233 Points Higher
NASDAQ: 41 Points Higher
CRUDE OIL: $0.85 Higher

MIDDAY MARKET UPDATE:

Both blocks and barrels remained unchanged at $1.45 and $1.50, respectively, with no loads traded in either category. There was an unfilled bid for a load of blocks a penny below the market with three uncovered offers at 5, 6 and 7 cents above the market. Dry whey price remained unchanged at 43 cents with no loads traded. Class III futures are 2-31 cents higher with September showing the greatest gain.

Butter price remained steady at $2.82 with four loads traded. Grade A nonfat dry milk price declined 2 cents, closing at $1.1250 with three loads traded. This moved the price down to the lowest level since Sept. 20, 2023. Class IV futures are steady to 2 cents higher. Butter futures are 0.25 to 2.02 cents higher. Dry whey futures are 0.75 cent lower to 0.35 cent higher.


Reformulated milk prices take effect

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