| CORN: | 5 Higher |
| SOYBEANS: | 30 Higher |
| SOYBEAN MEAL: | $7.10 Higher |
| LIVE CATTLE: | $1.07 Higher |
| DOW JONES: | 299 Points Higher |
| NASDAQ: | 348 Points Higher |
| CRUDE OIL: | $1.80 Higher |
Block cheese price declined 3 cents, closing at $1.73 with one load traded. Barrel cheese price declined 4.25 cents, closing at $1.6625 with one load traded. There were no unfilled bids or uncovered offers remaining at the close. This kept pressure on some Class III futures and increased some of the pressure on others. Fortunately, dry whey price held steady at 82 cents with no loads traded. Butter was the surprise with price plummeting 21 cents, closing at $2.29 with three loads traded. This moves price back to the lowest level since Jan. 3. Price has fallen 44.50 cents so far this week. The last time we had a move of this magnitude was June 4, 2022, when price increased 29 cents in one day. The decline Wednesday was the largest one-day decline since Dec. 10, 2015, when price fell 49 cents in one day. A void developed under the market and once buyers were satisfied, there was no one to aggressively take up the baton. Grade A nonfat dry milk price declined 2.50 cents, closing at $1.7775 with three loads. Class III futures are 60 cents lower to 13 cents higher with March taking the brunt of it while gains are seen in 2023 contracts. Class IV futures are steady to 54 cents lower. Butter futures are 0.52 cent to 12.00 cents lower with expanded limits in place Wednesday. Dry whey futures are steady to 0.25 cent higher.
