OUTSIDE MARKETS SUMMARY:
| CORN: | 24 Lower |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $0.80 Higher |
| LIVE CATTLE: | $2.12 Higher |
| DOW JONES: | 195 Points Lower |
| NASDAQ: | 95 Points Lower |
| CRUDE OIL: | $1.89 Higher |
MIDDAY MARKET UPDATE:
Block cheese price remained unchanged at $2.2475 with no loads traded. Barrel cheese price increased 0.75 cent, closing at $2.3025 with no loads traded. There was an unfilled bid for a load of blocks and an uncovered offer for a load of barrels. Dry whey price increased 2.75 cents, closing at 55 cents with no loads traded. There were five unfilled bids and two uncovered offers remaining at the close. Butter price increased a penny, ending at $2.89 with five loads traded. Grade A nonfat dry milk price increased 0.25 cent closing at $1.8675 with six loads traded. Class III futures are 10 cents lower to 32 cents higher. June shows the only loss while the double-digit strength is taking place in 2023 contracts on light trade. Class IV futures are 2 cents lower to 26 cents higher with strength being in 2023 contracts. Butter futures are 0.50 cent lower to 1.05 cents higher. Dry whey futures are 0.40 to 1.30 cents higher. I failed to consider the impact of the holiday on Monday on the announcement of the Federal Order class prices in my commentary Tuesday. (Editor's note: I failed also.) Wednesday is the final day to trade May futures and options with the May Federal Order class prices announced Thursday.
