OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $4.40 Lower |
| LIVE CATTLE: | $1.45 Higher |
| DOW JONES: | 1657 Points Lower |
| NASDAQ: | 805 Points Lower |
| CRUDE OIL: | $0.68 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 5.00 cents, closing at $1.76 with 3 loads traded. The barrel cheese price declined 1.50 cents, closing at $1.7650 with no loads traded. There were 2 unfilled bids for loads of blocks and one uncovered offer. An unfilled bid and uncovered offer remained in barrels. The dry whey price declined 2 cents, closing at 55.00 cents. Class III futures are 57 cents lower to 5 cents higher. April and later contracts show the strength, with the nearby October contract showing the greatest pressure. The butter price fell 13.50 cents, closing at $2.05 with 12 loads traded. There were 7 unfilled bids and 10 uncovered offers remaining at the close. The unfilled bids were below the market, with the lowest bid at $1.69. This is the lowest price since Dec. 9, 2021. Grade A nonfat dry milk gained 0.25 cent to close at $1.2550 with 14 loads traded. Class IV futures are 10-55 cents lower. Butter futures are 6.25 to 7.50 cents lower. Dry whey futures are 1.00 to 1.50 cents lower. Cheese futures are steady to 4.30 cents lower.
