OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 6 Lower |
| SOYBEAN MEAL: | $1.20 Lower |
| LIVE CATTLE: | $0.10 Lower |
| DOW JONES: | 294 Points Higher |
| NASDAQ: | 58 Points Lower |
| CRUDE OIL: | $2.30 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined by a penny, closing at $1.71 with one load traded. The barrel cheese price fell 8 cents, closing at $1.6875 with two loads traded. An unfilled bid for a load of blocks and two unfilled bids for barrels remained at the close. An uncovered offer for a load of barrels also remained. The dry whey price was under pressure with the price declining 0.50 cent, closing at 62.50 cents with three loads traded. Class III futures posted double-digit gains early, but then fell to double-digit losses in contracts through June. The butter price declined 0.50 cent, closing at $2.6450 with no loads traded. Only sellers showed up during spot trading with six uncovered offers posted. Grade A nonfat dry milk increased 1.25 cents, closing at $1.40 with eight loads traded. This is the highest price since Nov. 22, 2022. Both the nonfat dry milk and dry whey prices have been providing support to Class III and Class IV prices, moving to the highest levels since 2022. Class IV futures are 15 cents lower to 31 cents higher. Butter futures are steady to $1.57 cents lower. Dry whey futures are 0.15 to 1.25 cents higher.
