The newborn gut only absorbs antibodies until 12 hours after birth, on a decreasing scale, with most of them being in the first 6 hours, hence the recommendation to get colostrum in quickly. Some antibodies are still useful in the gut against E. coli etc after this point, but as the majority of the antibodies will no longer be absorbed, the mother produces diminishing amounts. If for your own use, you could certainly keep the milk for up to about 3 days as a highly nutritious milk for young kids or lambs, but I would only call it colostrum up to 12-24 hours. Hope the vet science bit helps!