OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 3 Higher |
| SOYBEAN MEAL: | $3.30 Lower |
| LIVE CATTLE: | $1.40 Higher |
| DOW JONES: | 42 Points Higher |
| NASDAQ: | 2 Points Lower |
| CRUDE OIL: | $0.66 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 2.75 cents, closing at $1.90 with 10 loads traded. The price initially increased by 0.50 cent before selling interest moved the price into negative territory. The barrel price increased 6 cents, closing at $2.12 with one load traded. This is the highest price since October 20, 2022. The block/barrel spread has quickly inverted to 22 cents. The price action of blocks and barrels has been incredible this week and defies explanation. The dry whey price increased 2 cents, closing at 41.50 cents with five loads traded. Class III futures are steady to 22 cents higher. The butter price remained unchanged at $3.0550 with no loads traded. Grade A nonfat dry milk price increased 0.50 cent with one load traded. Class IV futures are 10 cents lower to 10 cents higher. Butter futures are 1.50 cents lower to 1.50 cents higher. Dry whey futures are 1.15 to 4.00 cents higher.
