OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 3 Higher |
| SOYBEAN MEAL: | $0.50 Lower |
| LIVE CATTLE: | $2.75 Higher |
| DOW JONES: | 266 Points Lower |
| NASDAQ: | 3 Points Higher |
| CRUDE OIL: | $1.89 Higher |
MIDDAY MARKET UPDATE:
The block cheese price decreased 2.50 cents, closing at $1.66 with six loads traded. The barrel cheese price declined 3.50 cents, closing at $1.6750 with one load traded. There were two unfilled bids for blocks and two uncovered offers for barrels remaining at the close of spot trading. The dry whey price increased 0.50 cent, closing at 56.75 with two loads traded. Class III futures are 1 to 9 cents lower. The butter price remained steady at $2.59 with four loads traded. Grade A nonfat dry milk increased 0.25 cent, closing at $1.2675 with no loads traded. Class IV futures have only traded in the September contract at 14 cents lower. Butter futures are 1.75 cents lower to 1.15 cents higher. Dry whey futures are 0.02 to 0.45 cent lower. USDA raised its estimates for milk production this year by 500 million pounds to 228.3 billion pounds. The estimate was raised for 2026 by 900 million pounds to 229.1 billion pounds.
