OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 18 Lower |
| SOYBEAN MEAL: | $4.40 Lower |
| LIVE CATTLE: | $2.27 Higher |
| DOW JONES: | 69 Points Higher |
| NASDAQ: | 52 Points Higher |
| CRUDE OIL: | $1.60 Higher |
MIDDAY MARKET UPDATE:
Block cheese price moved higher after holding steady for the past two days. Price gained 2.25 cents, closing at $1.5225 with four loads traded and an unfilled bid remaining at the close. Barrel cheese price decreased by 1.75 cents, closing at $1.44 with two loads traded. The price initially declined to $1.4250 and then regained some of the loss. There was an unfilled bid and two uncovered offers remaining at the close.
Dry whey price remained unchanged at 44.25 cents with two loads traded. Class III futures are 1 cent to 15 cents higher. Butter price jumped 11 cents, closing at $2.6875 with no loads traded. There were three unfilled bids and one uncovered offer remaining at the close. This moved the price back to the highest level it has been since Nov. 15, 2023. It is the largest one-day gain since Sept. 27, 2023.
Grade A nonfat dry milk price gained a penny closing at $1.2025 with two loads traded. Class IV futures are showing significant trading activity throughout the entire year with prices ranging from 13 cents to 50 cents higher. Butter futures are locked limit-up in March through July contracts. Other contracts are 5.77 cents to 7.12 cents higher. Dry whey futures are 0.40 cent lower to 0.35 cent higher. USDA will release the December Livestock Slaughter report this afternoon.
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