OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 13 Lower |
| SOYBEAN MEAL: | $4.20 Lower |
| LIVE CATTLE: | $1.67 Higher |
| DOW JONES: | 536 Points Lower |
| NASDAQ: | 52 Points Lower |
| CRUDE OIL: | $0.36 Lower |
MIDDAY MARKET UPDATE:
The block cheese price fell 11.50 cents, closing at $1.6050 with 11 loads traded. There were 15 unfilled bids remaining at the close, indicating the price may be low enough to generate buyer interest. There was one uncovered offer. The barrel cheese price fell 5.25 cents, closing at $1.73 with one load traded. The dry whey price remained unchanged at 51 cents with no loads traded. Class III futures are 4 to 47 cents lower with April seeing the greatest pressure. The butter price fell 9.50 cents, closing at $2.25 with three loads traded. This is the lowest price since Dec. 23, 2021. Grade A nonfat dry milk declined 1.25 cents, closing at $1.18 with two loads traded. This is the lowest price since July 17, 2024. Tariffs being implemented Tuesday, and the uncertainty of demand continued the pressure that the market has experienced over the past month. Class IV futures are 39 cents lower. Butter futures are 1.80 to 5.45 cents lower. Dry whey futures are 1.25 to 2.75 cents lower.
