Tuesday, October 29, 2024

Tuesday Midday Dairy Market Summary - Butter Finds Some Strength

OUTSIDE MARKETS SUMMARY:

CORN: 3 Higher
SOYBEANS: 5 Lower
SOYBEAN MEAL: $2.60 Lower
LIVE CATTLE: $1.05 Lower
DOW JONES: 75 Points Lower
NASDAQ: 160 Points Higher
CRUDE OIL: $0.10 Lower

MIDDAY MARKET UPDATE:

Both block and barrel cheese prices were mixed. Barrels closed up 2 cents at $1.89 with no bids or offers and blocks closed 0.5 cents lower at $1.8950 with six loads traded and one unfilled offer. The dry whey price remained steady at 60.50 cents with three loads traded. There were two offers and three bids unfulfilled at the close. Class III futures are mixed from 13 cents lower to 15 cents higher. The butter price closed 1.5 cents higher at $2.69 with one load traded and four offers remaining. Grade A nonfat milk gained 1.25 cents closing at $1.3875 with 12 loads traded. Class IV futures are steady to 14 cents higher. Butter futures are 2.30 to 3.15 cents higher. Dry whey futures have not yet traded. Today is the last day to trade October futures and options with the Federal Order prices are to be released on Wednesday.




Tuesday Morning Dairy Market Update - Limited Trade Activity Expected

OPENING CALLS: Class III Milk Futures: 2 to 5 Lower Class IV Milk Futures: Mixed ...