OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 5 Lower |
| SOYBEAN MEAL: | $6.70 Lower |
| LIVE CATTLE: | $0.15 Lower |
| DOW JONES: | 56 Points Lower |
| NASDAQ: | 76 Points Higher |
| CRUDE OIL: | $4.12 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 0.75 cent to close at $1.1550 with three loads traded. The barrel price declined a penny to close at $1.55 with no loads traded. The dry whey price declined 0.50 cent to close at 62.75 with one load traded. Class III futures are mixed with futures ranging from 10 cents lower to 5 cents higher. The butter price exploded higher, jumping 26.50 cents, closing at $2.1050 with 15 loads traded. Even with the price increase, 15 unfilled bids and one uncovered offer remained at the close. This is the largest single-day price increase since June 4, 2020. Grade A nonfat dry milk declined 4.00 cents to close at $1.6700. This reduced the impact of the strength of butter. Class IV futures are 4 cents lower to 35 cents higher. Butter futures are 0.80 cent lower to 4.00 cents higher. Dry whey futures are 0.50-1.00 cents lower. Cheese futures are 0.80 cent lower to 0.90 cent higher.
