OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 10 Lower |
| SOYBEAN MEAL: | $11.30 Lower |
| LIVE CATTLE: | $0.82 Higher |
| DOW JONES: | 305 Points Higher |
| NASDAQ: | 364 Points Higher |
| CRUDE OIL: | $1.61 Lower |
MIDDAY MARKET UPDATE:
The block cheese price gained 2 cents, closing at $2.20 with six loads traded. The barrel cheese price gained 7 cents, closing at $2.16 with three loads traded. There was an unfilled bid and an uncovered offer for a load of blocks remaining at the close. The block price has moved to the highest level since Aug. 18, 2023. The barrel cheese price has moved to the highest level since Oct. 19, 2022. It appears buyers may be aggressively purchasing supply for fall and holiday demand. Class III futures are not as strong as would have been expected with contracts 7 cents lower to 15 cents higher. The November and December contracts set new contract highs. The dry whey price remained unchanged at 56.25 with no loads traded. The butter price declined 2 cents, closing at $3.12 with 11 loads traded. Grade A nonfat dry milk gained 1.75 cents, closing at $1.2325 with six loads traded. Class IV futures have traded in numerous contracts with prices ranging from steady to 13 cents higher. Butter futures are 0.45 to 0.97 cent lower. Dry whey futures are 0.22 cent lower to 0.50 cent higher.
