OUTSIDE MARKETS SUMMARY:
| CORN: | 11 Lower |
| SOYBEANS: | 41 Lower |
| SOYBEAN MEAL: | $8.10 Lower |
| LIVE CATTLE: | $1.22 Higher |
| DOW JONES: | 157 Points Lower |
| NASDAQ: | 28 Points Higher |
| CRUDE OIL: | $3.43 Lower |
MIDDAY MARKET UPDATE:
Spot trading began as usual with lower bids being placed when spot trading began. The buyers held these lower bids waiting for sellers to offer prices lower. They were not disappointed as sellers of blocks continue to lower offers to move product. Block cheese price declined 4.75 cents closing at $1.43 with 8 loads traded. There was an unfilled bid remaining with no uncovered offers. This moves block price back to the lowest level it has been since May 11, 2020. Barrel cheese price increased 0.50 cent closing at $1.4950 with one load traded. There was an unfilled bid and uncovered offer remaining at the close. Dry whey price remained unchanged at 27.50 with no loads traded. Class III futures are unchanged to 36 cents lower with June showing the greatest loss. Butter price remained steady at $2.43 with no loads traded. Grade A nonfat dry milk price declined 0.75 cent closing at $1.1675 with 2 loads traded. Class IV futures are mixed from 22 cents lower to 7 cents higher. Butter futures are 1.15 cents lower to 0.72 cent higher. Dry whey futures are 1.50 cents lower to 0.62 cent higher.
