OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 7 Lower |
| SOYBEAN MEAL: | $7.10 Lower |
| LIVE CATTLE: | $1.37 Higher |
| DOW JONES: | 41 Points Higher |
| NASDAQ: | 47 Points Higher |
| CRUDE OIL: | $2.07 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 1.25 cents closing at $1.6025 with no loads traded, one unfilled bid and one uncovered offer remaining at the close. Dry whey price increased by 3 cents with the price closing at 52 cents with two loads traded. This moved the price back up to a new high and the highest price since June 10, 2023. Class III futures focused more on the weakness of cheese rather than the strength of dry whey. Milk futures are 22 cents lower to 5 cents higher. Butter price declined 2.50 cents closing at 42.7450 with no loads traded. No buyers showed up in the market with two offers posted. Grade A nonfat dry milk price declined 1.75 cents closing at $1.2025 with three loads traded. Class IV futures are 13 cents lower to 7 cents higher. Butter futures are 1.00 cents lower to 1.72 cents higher. Dry whey futures are 2.22 cents lower to 0.25 cent higher. USDA reduced their milk production estimate for this year by 100 million pounds to average 228.2 billion pounds which would be another record.
