OUTSIDE MARKETS SUMMARY:
| CORN: | 12 Higher |
| SOYBEANS: | 19 Higher |
| SOYBEAN MEAL: | $5.60 Higher |
| LIVE CATTLE: | $0.27 Lower |
| DOW JONES: | 490 Points Lower |
| NASDAQ: | 445 Points Lower |
| CRUDE OIL: | $0.03 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 1.25 cents closing at $1.6275 with eight loads traded. The barrel cheese price declined 5 cents closing at $1.6550 with three loads traded. There were three unfilled bids for loads of blocks and one uncovered offer for a load of barrels remaining at the close. The dry whey price remained unchanged at 49 cents with one load traded. Class III futures are 21 cents lower to 7 cents higher. The butter price increased 1.75 cents closing at $2.30 with 27 loads traded. There were 23 unfilled bids and five uncovered offers remaining at the close. Grade A nonfat dry milk decreased 1.25 cents closing at $1.1675 with two loads traded. Class IV futures have not yet traded but may slip lower as the decline of nonfat dry milk offsets the gain in butter. Butter futures are 1.97 cents lower to 0.25 cent higher. Dry whey futures are 1.00 cents lower to 0.30 cent higher. President Trump has agreed that Mexico will not pay tariffs on anything that fall under the USMCA agreement. This agreement is until April 2 and has supported the grain markets, but not dairy.
