OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $1.70 Lower |
| LIVE CATTLE: | $0.47 Lower |
| DOW JONES: | 147 Points Higher |
| NASDAQ: | 57 Points Higher |
| CRUDE OIL: | $0.47 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 2.75 cents closing at $1.69 with two loads traded. The barrel cheese price slipped 0.50 cent closing at $1.68 with one load traded. There was an unfilled bid for a load of blocks and a load of barrels at the closer of spot trading with three uncovered offers for blocks. That provides no confidence in prices finding support. The dry whey price slipped 0.25 cent closing at 62.25 with no loads traded. Class III futures are 32 cents lower to 7 cents higher. The greatest loss is in the December 2024 contract while the gain is in the October contract. Class III contract from December and later are below $19.00. The butter price increased 3.25 cents, closing at $2.63 with two loads traded. Bids and offers remained on both sides of the market at the close. Grade nonfat dry milk declined by a penny closing at $1.39 with five loads traded. Class IV futures are 9 to 15 cents lower. Butter futures are steady to 3.15 cents higher. Dry whey futures are 0.15 cent lower to 0.25 cent higher.
