# Early Morning Update - November 19, 2024

> Dairy futures bounced after hitting new lows, with December Class III gaining $1.42/cwt since Friday. Traders are awaiting the GDT auction, where a 3.4% index rise is expected, and the October Milk Production report, which is expected to show output falling below year-ago levels due to bird flu in California.

- Date: 2024-11-19 · published 2024-11-19T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/27551-early-morning-update-november-19-2024
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Expected lower US milk output and a firmer global dairy auction point to support for dairy product prices, which matters for buyers of milk-based feed ingredients.

## Read by commodity

- MILK: bullish ▲

## Sources

- stonex.com: https://www.stonex.com/en-us/insights/early-morning-update---november-19,-2024-1536657/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.