OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Higher |
| SOYBEANS: | 19 Higher |
| SOYBEAN MEAL: | $3.70 Higher |
| LIVE CATTLE: | $0.22 Lower |
| DOW JONES: | 196 Points Higher |
| NASDAQ: | 24 Points Higher |
| CRUDE OIL: | $0.58 Higher |
MIDDAY MARKET UPDATE:
Block cheese price initially declined 1.50 cents before buyer interest turned more aggressive. Price closed at $2.00 with two loads traded and two unfilled bids remaining at the close. Barrel cheese price fell 8 cents closing at $1.6550 with one load traded. this is the lowest barrel price since December 28, 2021. The has been a lot of price movement over the past year and now it is back at the same level. Dry whey price declined 3.75 cents closing at 37.50 with five loads traded. Price is now down to the lowest level it has been since September 22, 2020. Class III futures are declining right along with the weakness with contracts 2-30 cents lower. January, February, and March contacts are now below $19.00. Butter price fell 10 cents closing at $2.60 with three loads traded. This is the lowest price since February 25. The feared butter shortage a few months ago never materialized as sufficient supply remained available. Grade A nonfat dry milk price remained steady to $1.36 with no loads traded. Class IV futures are unchanged to 5 cents lower. Butter futures are 1.47-3.00 cents lower. Dry whey futures are steady to 1.25 cents lower.
