Monday, August 19, 2024

Monday Midday Dairy Market Summary - Butter Shows Minor Strength

OUTSIDE MARKETS SUMMARY:

CORN: 6 Higher
SOYBEANS: 13 Higher
SOYBEAN MEAL: $6.00 Higher
LIVE CATTLE: Unchanged
DOW JONES: 183 Points Higher
NASDAQ: 104 Points Higher
CRUDE OIL: $2.29 Lower

MIDDAY MARKET UPDATE:

Both block and barrel cheese prices remained unchanged at $2.10 and $2.2550, respectively, with no loads traded. Offers were posted at higher prices with no buyers showing up to do any business. Sellers posted higher prices with no intention of lowering the offers to accomplish any business. The dry whey price remained unchanged at 55 cents with no loads traded. Class III futures are 2 cents lower to 28 cents higher. The butter price gained 0.50 cent closing at $3.1850 with six loads traded. The price initially increased to $3.2025 before slipping back. Grade A nonfat dry milk increased a penny to $1.2650 with three loads traded. Class IV futures are 8 to 11 cents higher. Butter futures are 0.75 cent lower to 0.50 cent higher. Dry whey futures are 0.15 lower to 1.00 cents higher.




August Milk Production in the United States down 0.1 Percent

August Milk Production up 0.1 Percent          Milk production in the 24 major States during August totaled 18.1 billion pounds, up 0.1 perc...