MIDDAY MARKET UPDATE:
Blocks took over with weakness Tuesday, moving price down 14.75 cents and closing at $1.77 with no loads traded. Offers for 3 loads remained at the close with no bids. Barrel price remained unchanged at $1.40 with 3 loads traded. There were no bids or offers remaining as buyers and sellers were comfortable doing business at the current price. The weakness is incredible and expected to continue based on what is taking place in the spot market. Butter declined 1.75 cents, closing at $1.3625 with 6 loads traded. Grade A nonfat dry milk price remained unchanged at $1.0825 with 8 loads traded. Dry whey price declined 0.75 cent, closing at 42.25 with one load traded. Class III futures are 50 cents lower to 10 cents higher. Class IV futures are 17 cents lower. Butter futures are 0.87 to 1.97 cents lower. Dry whey futures are 0.15 cent lower.
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