OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 26 Lower |
| SOYBEAN MEAL: | $10.80 Lower |
| LIVE CATTLE: | $0.10 Lower |
| DOW JONES: | 166 Points Higher |
| NASDAQ: | 174 Points Higher |
| CRUDE OIL: | $0.71 Lower |
MIDDAY MARKET UPDATE:
Block cheese prices showed strength throughout the spot trading period, gaining 4 cents with price closing at $2.0550 with three loads traded. This is the highest price since Jan. 18. Barrel cheese price initially declined 1.50 cents before buying interest increased, moving price to $1.96, up 2 cents on the day with seven loads traded. Dry whey price declined a penny, closing at 43.75 with no loads traded. Class III futures jumped higher with contracts ranging from 3 cents lower to 50 cents higher. April shows the greatest gain with the only loss in the December 2023 contract. Butter price declined 3.50 cents, closing at $2.3475 with one load traded. This moves the price back to the level it was at two weeks ago. Grade A nonfat dry milk price remained unchanged at $1.15 with no loads traded. Class IV futures have only traded in the August contract, which is 5 cents lower. Butter futures are steady to 2.00 cents lower. Dry whey futures are steady to 0.50 cent lower. USDA will release the February Cold Storage and the Livestock Slaughter reports Thursday afternoon
