OUTSIDE MARKETS SUMMARY:
| CORN: | 10 Higher |
| SOYBEANS: | 43 Higher |
| SOYBEAN MEAL: | $1.30 Lower |
| LIVE CATTLE: | $1.70 Higher |
| DOW JONES: | 198 Points Lower |
| NASDAQ: | 117 Points Higher |
| CRUDE OIL: | $0.69 Higher |
MIDDAY MARKET UPDATE:
Block cheese price gained 3 cents, ending at $1.7650 with no loads traded. No sellers came to the market, leaving the buyers trying to entice someone to sell by raising price. Barrel cheese price increased 0.75 cent, ending at $1.8575 with one load traded. Dry whey price slipped 0.50 cent, ending at 46.50 cents with one load traded. Butter price increased 0.75 cent, closing the trading period at $3.10 with five loads traded. Grade A nonfat dry milk price remained unchanged at $1.52 with nine loads traded. Class III futures were higher prior to spot trading in September through the end of the year with some lower contracts thereafter. However, futures moved higher after a short period of time after spot trading as traders decide to further liquidate sold positions. This moved November futures up 75 cents for a period. Current futures are 7 cents lower to 59 cents higher with August and September 2023 contracts posting the only losses. Class IV futures are 12 to 52 cents higher. Butter futures are 2.97 to 6.00 cents higher. Dry whey futures are 0.50 cent lower to 1.15 cents higher. USDA will release the July Dairy Products report at 2 p.m. CDT.
