OUTSIDE MARKETS SUMMARY:
| CORN: | Unchanged |
| SOYBEANS: | 5 Lower |
| SOYBEAN MEAL: | $2.00 Lower |
| LIVE CATTLE: | $1.12 Lower |
| DOW JONES: | 143 Points Lower |
| NASDAQ: | 336 Points Lower |
| CRUDE OIL: | $0.79 Higher |
MIDDAY MARKET UPDATE:
The block cheese price slipped 0.75 cent, closing at $1.3750 with no loads traded. The barrel cheese price remained unchanged at $1.41 with no loads traded. The dry whey price slipped 0.50 cent, closing at 74.50 cents with three loads traded. Class III futures are mixed with contracts ranging from 14 cents lower to 6 cents higher. The butter price declined 4.00 cents, closing at $1.4850 with 15 loads traded. The heavy volume of offers has diminished, with two uncovered offers remaining at the close and 14 unfilled bids. Hopefully, this may indicate that the selling pressure will subside. Grade A nonfat dry milk increased 3.75 cents to close at $1.4175 with no loads traded. There were seven unfilled bids and one uncovered offer remaining. This is the highest price since Nov. 22, 2022. This is providing support to the Class IV market. Class IV futures have traded steady so far today. Butter futures are 0.80 cent lower to 0.52 cent higher. Dry whey futures are 0.27 cent lower to 1.00 cents higher. Cheese futures are 1.90 cents lower to 0.60 cent higher.
