Friday, May 3, 2024

Friday Midday Dairy Market Summary - Markets End Strong Week on Higher Note

OUTSIDE MARKETS SUMMARY:

CORN: 1 Higher
SOYBEANS: 17 Higher
SOYBEAN MEAL: $8.30 Higher
LIVE CATTLE: $0.25 Lower
DOW JONES: 488 Points Higher
NASDAQ: 345 Points Higher
CRUDE OIL: $0.59 Higher

MIDDAY MARKET UPDATE:

Block cheese price slightly higher closing at $1.7875 with one load traded. Barrel cheese price remained steady, closing at $1.88 with one load traded. Two unfilled bids for blocks remain at close with no offer remaining. Barrels had two bids and one offer remaining.

Dry whey price increased 0.50 cents, closing at 39.50 cents with 10 loads traded. There were four bids remaining and only one offer at the close. Class III futures are 1 cent to 23 cents higher. Butter increased 1.75 cents at $3.0750 with two bids and one offer remaining. Grade A nonfat dry milk price increased by 1.25 cents, closing at $1.13 with two loads traded. Class IV futures are flat to 9 cents higher with only the November traded so far today. Butter futures are 0.35 cents to 3 cents lower. Dry whey futures are steady to $1.85 higher.




Friday Closing Dairy Market Update - 2024 Milk Production Lower, But Herd Size Growing

MILK: Class III milk futures lost over 80 cents on the March contract this week, while Class IV lost over $1.40 from this time last week. We...