OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Higher |
| SOYBEANS: | 7 Lower |
| SOYBEAN MEAL: | $4.30 Lower |
| LIVE CATTLE: | $0.42 Lower |
| DOW JONES: | 135 Points Lower |
| NASDAQ: | 55 Points Higher |
| CRUDE OIL: | $0.67 Lower |
MIDDAY MARKET UPDATE:
The block cheese price showed further weakness with a decline of 0.75 cent, closing at $1.3475 with 10 loads traded. The barrel cheese price remained steady at $1.4125 with no loads traded. The dry whey price remained unchanged at 74.50 cents with no loads traded. Class III futures are 9 cents lower to 19 cents higher. The lower futures prices are in the second half of 2026. The butter price remained unchanged at $1.4775 with three loads traded. Grade A nonfat dry milk declined a penny to close at $1.1650 with one load traded. Class IV futures have only traded in the February contract at 3 cents lower. Butter futures are 1.55 to 2.77 cents lower. Dry whey futures are unchanged to 0.25 cent higher. Cheese futures are 0.10 cent lower to 1.80 cents higher. USDA reduced its estimate for milk production for 2026 by 200 million pounds, but still another record output of 234.1 billion pounds.
