OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Higher |
| SOYBEANS: | 2 Lower |
| SOYBEAN MEAL: | $8.70 Lower |
| LIVE CATTLE: | $0.15 Lower |
| DOW JONES: | 134 Points Lower |
| NASDAQ: | 5 Points Lower |
| CRUDE OIL: | $1.62 Higher |
MIDDAY MARKET UPDATE:
Block cheese price remained unchanged at $1.95 with no loads traded. Barrel cheese price slipped 0.25 cent closing at $1.8675 with no loads traded. There was an offer for a load of blocks and two offers for barrels with an unfilled bid for a load of barrels at the close. Dry whey price gained 1.50 cents closing at 32 cents with 3 loads traded. Class III futures are 8 cents lower to 11 cents higher. Futures are well off their highs achieved prior to spot trading. Butter price increased 5 cents closing at $2.71 with 19 loads traded. There were 11 unfilled bids remaining at the close of trading, suggesting prices could move higher again. Grade A nonfat dry milk price declined 1.75 cents closing at $1.0575 with 5 loads traded. This is the lowest price since Nov. 5, 2020. Class IV futures are 1 cent to 2 cents lower. Butter futures are 1 – 3.25 cents higher. Dry whey futures are unchanged at 0.25 cent higher. The July Dairy Products report will be released this afternoon.
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