OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 5 Higher |
| SOYBEAN MEAL: | $0.40 Lower |
| LIVE CATTLE: | $0.32 Lower |
| DOW JONES: | 479 Points Lower |
| NASDAQ: | 230 Points Higher |
| CRUDE OIL: | $1.33 Higher |
MIDDAY MARKET UPDATE:
The price increase over the past two days was too good to be true. The block cheese price declined 4.00 cents, closing at $1.4050 with two loads traded. The barrel cheese price remained unchanged at $1.4650 with no loads traded. The dry whey price remained unchanged at 74.00 cents with no loads traded. Class III futures are 8-42 cents lower, with February posting the largest decline. The butter price slipped 0.50 cent, closing at $1.5950 with six loads traded. Butter could see further pressure as there were only three unfilled bids and 30 uncovered offers remaining at the close of spot trading. Grade A nonfat dry milk gained 3.00 cents to close at $1.36 with two loads traded. This is the highest nonfat dry milk price since Jan. 17, 2025. Class IV futures are 38 cents lower to 9 cents higher. Butter futures are 1.50-8.50 cents lower. Dry whey futures are 1.00 cents lower to 0.25 cent higher. Cheese futures are 0.40-4.00 cents lower.
