OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 3 Lower |
| SOYBEAN MEAL: | $0.50 Higher |
| LIVE CATTLE: | $0.35 Lower |
| DOW JONES: | 295 Points Higher |
| NASDAQ: | 128 Points Lower |
| CRUDE OIL: | $1.40 Higher |
MIDDAY MARKET UPDATE:
The block cheese price fell 3.50 cents, closing at $1.33 with seven loads traded. The barrel cheese price remained unchanged at $1.40 with no loads traded. The unchanged barrel price was not surprising, but the decline of blocks was a surprise. This moves the block price back to the lowest level since June 29, 2023. If the price falls more than 2 cents, the price will be the lowest since May 2020. The dry whey price remained unchanged at 70.00 cents with no loads traded. Class III futures are 32 cents lower to 1 cent higher. The butter price declined 2.00 cents, closing at $1.3025 with 12 loads traded. By contrast, the Grade A nonfat dry milk price gained 3.00 cents to close at $1.2475 with six loads traded. This is the highest price since Sept. 9, 2025. Class IV futures have not yet been traded. Butter futures are 0.02-2.75 cents lower. Dry whey futures are 0.65 cent lower to 0.20 cent higher. Cheese futures are steady to 2.80 cents lower.
