OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 6 Lower |
| SOYBEAN MEAL: | $3.30 Lower |
| LIVE CATTLE: | $0.40 Lower |
| DOW JONES: | 99 Points Lower |
| NASDAQ: | 181 Points Higher |
| CRUDE OIL: | $0.16 Lower |
MIDDAY MARKET UPDATE:
The block cheese price slipped by 0.50 cent, closing at $1.6375 with no loads traded. An uncovered offer for a load of blocks remained at the close with no interest from a buyer. The barrel cheese price remained steady at $1.6050 with no loads traded and an uncovered offer remaining at the close. The dry whey price increased 1.75 cents closing at 72.75 cents with three loads traded. This is the highest price since March 24, 2022. Class III futures are mixed at 8 cents lower to 3 cents higher. Class III futures should be higher as the gain of dry whey more than offset the decline of blocks, but the focus is on cheese and not dry whey. The butter price increased by 0.25 cent, closing at $2.4950 with nine loads traded. The price initially declined to $2.48 before buyers became more aggressive, and the price moved to positive territory. Unfilled bids and uncovered offers remained at the close of spot trading. Grade A nonfat dry milk remained unchanged at $1.3950 with no loads traded. Class IV futures are 2 to 5 cents higher. The October income over feed price for the Dairy Margin Coverage Program was $15.17.
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