OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 10 Higher |
| SOYBEAN MEAL: | $9.30 Higher |
| LIVE CATTLE: | $0.72 Higher |
| DOW JONES: | 155 Points Lower |
| NASDAQ: | 32 Points Higher |
| CRUDE OIL: | $2.08 Higher |
MIDDAY MARKET UPDATE:
Block cheese price showed further weakness with a decline of 2.50 cents closing at $2.0650 with no loads traded and no buyers showing up to the market. Barrel cheese price increased 1.75 cents, closing at $1.8175 with no loads traded and no sellers showing up during spot trading. Dry whey remained unchanged at 45 cents with one load traded. Class III futures are seeing some support as the day progresses. Contracts are mixed ranging from 17 cents lower to 10 cents higher. Gains are seen in November and December 2023 contracts that have not seem much trading activity. Butter price slipped 0.50 cent, closing at $2.9250 with no loads traded. Grade A nonfat dry milk price declined 2.75 cents, closing at $1.36 with two loads traded. Nonfat price has moved to the lowest level since Sept. 27, 2021, falling below the low from early November. However, even with that pressure Class IV contracts are mixed from 10 cents lower to 8 cents higher and have only traded in contracts from May 2023 through the end of 2023. The November Federal Order prices will be announced today. USDA will release the October Agricultural Prices report at 2 p.m. CST, providing price used in the calculation of income over feed for the Dairy Margin Coverage program.
