OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 13 Lower |
| SOYBEAN MEAL: | $6.40 Lower |
| LIVE CATTLE: | $0.92 Lower |
| DOW JONES: | 119 Points Lower |
| NASDAQ: | 65 Points Lower |
| CRUDE OIL: | $1.12 Higher |
MIDDAY MARKET UPDATE:
Block cheese price fell 10.50 cents closing at $1.93 with 3 loads traded. Offers pushed prices down steadily and quickly as the seller was looking for a buyer. Barrel cheese price declined 6.50 cents closing at $1.6350 with 2 loads traded. This is the lowest barrel price since December 28, 2021. A lot of opportunity has been lost over the past year. Dry whey price remained unchanged at 33 cents with 2 loads traded. Class III futures are 17 cents lower to 5 cents higher. The only contracts showing strength are the front-month January and November contracts. Butter price declined 4.75 cents closing at $2.3225 with no load traded. There were 2 uncovered offers remaining at the close. Grade A nonfat dry milk price declined 3 cents closing at $1.18 with 5 loads traded. Buyers are willing to purchase supply but only at lower prices. This is the lowest nonfat dry milk price since April 5, 2021. Class IV futures are under pressure with losses of 15-37 cents. Butter futures are 0.20-2.50 cents lower. Dry whey futures are 1.42 cents lower to 0.20 cent higher.
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