OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 6 Lower |
| SOYBEAN MEAL: | Unchanged |
| LIVE CATTLE: | $0.45 Lower |
| DOW JONES: | 357 Points Higher |
| NASDAQ: | 55 Points Higher |
| CRUDE OIL: | $0.28 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined 4.75 cents closing at $1.8875 with seven loads traded. The barrel cheese price gained 2.25 cents closing at $1.8875 with two loads traded. There were unfilled bids remaining for blocks and uncovered offers remaining for barrels. Even though the barrel price was higher, traders did not have much hope for the market to find support anytime soon. Class III futures fell with contracts 39 cents lower to 9 cents higher. The dry whey price declined by 0.50 cents closing at 59.50 cents with no loads traded. The butter price declined 1.50 cents closing at $2.6250. Grade A nonfat dry milk remained unchanged at $1.3225 with no loads traded. Class IV futures are steady. Butter futures are 3.37 cents lower to 0.50 cents higher. Dry whey futures are 1.90 cents lower to 0.15 cents higher. USDA reduced estimated milk production by 100 million pounds this year and 200 million pounds for 2025 from their September estimate.
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