OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 2 Lower |
| SOYBEAN MEAL: | $4.60 Lower |
| LIVE CATTLE: | $0.20 Lower |
| DOW JONES: | 257 Points Lower |
| NASDAQ: | 277 Points Lower |
| CRUDE OIL: | $0.47 Lower |
MIDDAY MARKET UPDATE:
The block cheese price fell 7 cents closing at $1,5750 with two loads traded. The barrel cheese price fell 5.50 cents closing at $1.57 with one load traded. There were four uncovered offers for blocks and one unfilled bid and one uncovered offer for barrels remaining. This does not bode well for the price potential. Sellers continue to offer cheese to the market at lower prices to move supply. The block price is down to the level it was on April 15, 2024. The barrel cheese price is down to the level last seen on April 12, 2024. The dry whey price increased a penny closing at 46 cents with one load traded. Class III futures are 3 cents higher to 25 cents lower. The butter price declined by 0.75 cent closing at $2.2950 with six loads traded. Grade A nonfat dry milk remained steady at $1.1550. Class IV futures have not yet been traded. Butter futures are steady to 3.00 cents lower. Dry whey futures are 1 cent lower to 0.50 cent higher.
