OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Higher |
| SOYBEANS: | 16 Higher |
| SOYBEAN MEAL: | $2.20 Higher |
| LIVE CATTLE: | $2.10 Higher |
| DOW JONES: | 315 Points Higher |
| NASDAQ: | 175 Points Higher |
| CRUDE OIL: | $0.09 Higher |
MIDDAY MARKET UPDATE:
Block cheese price jumped 8 cents, closing at $1.76 with one load traded. This is the highest price since Oct.r 23, 2023. Price has increased 36.25 cents over the past month. Barrel cheese price jumped 11 cents, closing at $1.77 with five loads traded. This is the largest one-day price increase since July 24, 2023. Dry whey price slipped 0.25 cent, closing at 39 cents with no loads traded. Class III futures are steady to 48 cents higher with May showing the greatest gain on strong trading volume with nearly 1700 contracts traded. Butter gained 8 cents, closing at $3.00 with 15 loads traded. Grade A nonfat dry milk price remained unchanged at $1.12 with no loads traded. Class IV futures are 2 to 42 cents higher with July showing the greatest gain. USDA will release the March Milk Production report this afternoon. I estimate milk production to be down 1.0% from a year ago with cow numbers down 4,000 head from February.
