OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 2 Higher |
| SOYBEAN MEAL: | $1.70 Higher |
| LIVE CATTLE: | $0.62 Higher |
| DOW JONES: | 171 Points Higher |
| NASDAQ: | 183 Points Lower |
| CRUDE OIL: | $1.85 Lower |
MIDDAY MARKET UPDATE:
The block cheese price remained unchanged at 1.88 with no loads traded. The barrel cheese price declined 0.75 cents closing at $1.7925 with no loads traded. There was an offer for a load of blocks and two loads of barrels remaining at the close. This is concerning as buyers remain sidelined waiting for lower prices. The dry whey price remained unchanged at 53.50 cents with no loads traded. Class III futures are 2 to 24 cents lower with March showing the greatest decline. The butter prices declined 2.50 cents closing at $2.3450 with no loads traded. There was an unfilled bid posted way down at $2.20 with six uncovered offers remaining at the close. The low bid may indicate the price has further downside potential before finding support. Nonfat dry milk declined 2.50 cents closing at $1.20 with 10 loads traded. This is the lowest price since Aug. 9, 2024. Class IV futures are 24 to 34 cents lower. Butter futures are 1.45 to 3.75 cents lower. Dry whey futures are unchanged to 1.00 cents lower.
