Friday, October 25, 2024

Friday Midday Dairy Market Summary - Milk Futures See More Pressure

OUTSIDE MARKETS SUMMARY:

CORN: 6 Lower
SOYBEANS: 9 Lower
SOYBEAN MEAL: $4.40 Lower
LIVE CATTLE: $0.40 Higher
DOW JONES: 346 Points Higher
NASDAQ: 148 Points Higher
CRUDE OIL: $1.40 Higher

MIDDAY MARKET UPDATE:

The block cheese prices declined 2 cents closing at $1.90 with no loads traded. Two uncovered offers remained at the close with no buyers showing up to do any business. The barrel price slipped by 0.50 cent closing at $1.87 with two loads traded. The dry whey price remained steady at 60.50 cents with no loads traded. Class III futures remain under selling pressure with contracts 27 cents lower to 2 cents higher. The butter price gained 4.50 cents closing at $2.6950 with five loads traded. Grade A nonfat dry milk gained 1.50 cents closing at $1.3750 with two loads traded. Class IV futures are steady to 10 cents higher. Butter futures are 0.85 cent lower to 3.25 cents higher. Dry whey futures are steady to 0.75 cent lower. The USDA will release the September Cold Storage report Friday afternoon. There will be no Dairy Revenue Protection daily prices released Friday.




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...