OUTSIDE MARKETS SUMMARY:
| CORN: | 8 Higher |
| SOYBEANS: | 13 Higher |
| SOYBEAN MEAL: | $2.30 Higher |
| LIVE CATTLE: | $2.07 Lower |
| DOW JONES: | 191 Points Lower |
| NASDAQ: | 101 Points Higher |
| CRUDE OIL: | $0.17 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 0.50 cent, closing at $1.6150 with five loads traded. The barrel cheese price declined 2.25 cents, closing at $1.6125 with two loads traded. The dry whey price gained 0.75 cent, closing at 59.25 cents with four loads traded. Class III futures are 17 cents lower to 5 cents higher. The butter price fell 6.75 cents, closing at $1.86 with three loads traded. This is the lowest price since Oct. 22, 2021. Grade A nonfat dry milk declined 0.75 cent to close at $1.1650 with four loads traded. Class IV futures are 19 to 57 cents lower. Butter futures are 12.75 cents lower to 0.50 cent higher. Expanded limits continue today and are the reason for the large losses are possible. Dry whey futures are 3.75 cents lower to 1.00 cents higher. Cheese futures are 1.50 cents lower to 0.30 cent higher. USDA increased its milk production estimate this year to 230.0 billion pounds and production in 2026 to 231.3 billion pounds.
