OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 35 Lower |
| SOYBEAN MEAL: | $6.00 Lower |
| LIVE CATTLE: | $2.32 Higher |
| DOW JONES: | 95 Points Higher |
| NASDAQ: | 124 Points Higher |
| CRUDE OIL: | $1.55 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 3 cents, closing at $1.3935 with two loads traded. There were four unfilled bids at the close. Barrel cheese price increased 2.25 cents, closing at $1.38 with 25 loads traded. There were five unfilled bids remaining at the close. Dry whey decreased 0.25 cent, closing at 22.75 cents with 20 loads traded. There were eight unfilled bids and five uncovered offers remaining at the close. Class III futures are mixed from 11 cents lower to 14 cents higher. Traders remain reluctant to buy into futures on the strength of the past two days of underlying cash. Heavy trading of barrels and dry whey also indicates there are plentiful supplies with sellers wanting to move it as soon as possible. So even though cheese prices increased, there is a bearish cloud hanging over the market. Butter price increased 0.25 cent, closing at $2.48 with seven loads traded. Price initially traded lower before buyer interest moved the market higher. Grade A nonfat dry milk price decreased 2 cents, closing at $1.0875 with four loads traded. This is the lowest price since Nov. 24, 2020. Class IV futures have not yet traded with bids and offers somewhat far apart. Butter futures are 0.10 to 1.75 cents higher. Dry whey futures are 0.20 to 0.90 cent lower.
