OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 8 Lower |
| SOYBEAN MEAL: | $4.30 Lower |
| LIVE CATTLE: | $1.77 Lower |
| DOW JONES: | 189 Points Lower |
| NASDAQ: | 25 Points Lower |
| CRUDE OIL: | $0.69 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 2.75 cents to close at $1.4425 with nine loads traded. This is another new low for the year, with the price moving back to the lowest level since April 4, 2024. The barrel cheese price fell 6.25 cents, closing at $1.52 with no loads traded. There was an unfilled bid at a lower price, which may have been placed as a gesture to indicate there is some interest in buying on the spot market. The dry whey price remained unchanged at 73.25 cents with no loads traded. Class III futures are mixed, ranging from 11 cents lower to 9 cents higher. The decline of the barrel price has no impact on the Class III price. The butter price slipped 0.50 cent with two loads traded, and the price closing at $1.4450. Grade A nonfat dry milk slipped 0.25 cent to end the trading period at $1.14 with two loads traded. This is the lowest price since Nov. 6. Class IV futures are 2-7 cents lower. Butter futures are 3.00 cents lower to 2.47 cents higher. Dry whey futures are 1.22 to 1.37 cents higher. Cheese futures are 0.10 to 1.40 cents lower. USDA will release the delayed Livestock Slaughter report today.
