OUTSIDE MARKETS SUMMARY:
| CORN: | 25 Lower |
| SOYBEANS: | 14 Lower |
| SOYBEAN MEAL: | $4.20 Lower |
| LIVE CATTLE: | $1.32 Higher |
| DOW JONES: | 35 Points Higher |
| NASDAQ: | 101 Points Higher |
| CRUDE OIL: | $0.03 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined 3.25 cents to close at $1.2825 with three loads traded. There were four unfilled bids and one uncovered offer remaining. This is the lowest price since May 5, 2020. The barrel cheese price declined 4.00 cents with no loads traded. There was an uncovered offer at the close of spot trading. The dry whey price remained unchanged at 70.00 cents with no loads traded. Class III futures are holding up well, with prices from 9 cents lower to 1 cent higher. The butter price remained unchanged at $1.30 with no loads traded. No buyers or sellers showed up to do any business. Grade A nonfat dry milk slipped 0.50 cent to close at $1.26 with four loads traded. Class IV futures have only traded in October at 13 cents higher. Butter futures are 3.00 cents lower to 0.10 cent higher. Dry whey futures are 0.62 cent lower to 0.10 cent higher. Cheese futures are 0.60 cent lower to 1.10 cents higher. USDA raised its estimate for milk production to 234.3 billion pounds, up 200 million pounds from the December report.
