OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 17 Lower |
| SOYBEAN MEAL: | $0.80 Lower |
| LIVE CATTLE: | $2.72 Higher |
| DOW JONES: | 563 Points Lower |
| NASDAQ: | 560 Points Lower |
| CRUDE OIL: | $2.48 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined 6.00 cents, closing at $1.70 with one load traded. The barrel cheese price declined 3.00 cents, closing at $1.71 with no loads traded. The barrel market has been difficult to predict to understand as virtually no trading activity would suggest a tight supply, but there is little interest in buyers being aggressive, indicating demand is lackluster. The dry whey price gained 0.50 cent, closing at 63.50 cents with two loads traded. Class III futures are 1 to 31 cents lower. The butter price gained 0.25 cent, closing at $1.6050 with 12 loads traded. The price initially declined to a new low of $1.5875 before buying interest moved the price higher. There were four unfilled bids and eight uncovered offers remaining at the close. Grade A nonfat dry milk declined 0.75 to close at $1.1275 with one load traded. That is the lowest price for the year and the lowest price since May 7, 2024. Class IV futures are 18 cents lower to 32 cents higher. Butter futures are 3.70 cents lower to 7.47 cents higher.
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