OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 5 Higher |
| SOYBEAN MEAL: | $4.20 Higher |
| LIVE CATTLE: | $1.90 Higher |
| DOW JONES: | 2 Points Lower |
| NASDAQ: | 43 Points Higher |
| CRUDE OIL: | $1.91 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained steady with blocks at $2.14 and barrels at $2.25 with no loads traded in each. No buyers showed up during the spot trading period with two uncovered offers posted for barrels remaining at the close of trading. The dry whey price remained unchanged at 56.50 cents with two loads traded. Class III futures posted double-digit gains in many contracts ahead of spot trading and are now 20 cents lower to 35 cents higher. The highest gain is in the June contract with the lowest price in the October 2024 contract. The butter price increased 2.25 cents, closing at $3.1975 with 13 loads traded. This moves the price to a new high and the highest since Oct. 31, 2023. It is now 7 cents below the high of 2022. Grade A nonfat dry milk increased 1.75 cents to close at $1.3150 with 13 loads traded. This is the highest nonfat price since Jan. 3, 2023. Class IV futures are 13-60 cents higher. Butter futures are steady to 4 cents higher. Dry whey futures are steady to 1.50 cents higher.
