OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $2.60 Lower |
| LIVE CATTLE: | $1.70 Lower |
| DOW JONES: | 69 Points Lower |
| NASDAQ: | 70 Points Lower |
| CRUDE OIL: | $1.53 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased a penny, closing at $1.64 with seven loads traded. The price initially declined to $1.6350 before rebounding from the low. The barrel cheese price increased 3.50 cents, closing at $1.6450 with one load traded. The strength in the cheese prices has not had an impact on Class III futures. They range from 15 cents lower to 3 cents higher, with most contracts trading at the lows of the day. The dry whey price increased 0.50 cent, closing at 64.50 cents with no loads traded. The butter price fell 6.00 cents, closing at $1.62 and a new low for the year. There were 13 loads traded. This is the lowest price since Aug. 14, 2021. Grade A nonfat dry milk remained unchanged at $1.1450 with 14 loads traded. Class IV futures have only traded in the November contract at 5 cents higher, which took place before spot trading. Butter futures are 0.02 cent higher to 3.35 cents lower. Dry whey futures are 0.77 cent lower to 0.60 cent higher. Cheese futures are steady to 1.20 cents lower.
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