OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 8 Lower |
| SOYBEAN MEAL: | $3.80 Lower |
| LIVE CATTLE: | $0.10 Lower |
| DOW JONES: | 19 Points Higher |
| NASDAQ: | 150 Points Lower |
| CRUDE OIL: | $3.80 Higher |
MIDDAY MARKET UPDATE:
The block cheese price remained steady at $1.6550 with 10 loads traded. The price moved 2 cents higher at one point during spot trading and 0.50 cent lower as well. This raised caution in the traders' minds, moving them to be conservative. The barrel cheese price remained unchanged at $1.5725 with no loads traded. The dry whey price remained unchanged at 66.00 cents with no loads traded. Class III futures are 13 cents lower to 8 cents higher. The butter price increased by 4.00 cents to close at $1.8150 with 28 loads traded. The price moved to $1.8200 at one point during spot trading, but slipped under the volume of selling activity. Grade A nonfat dry milk increased 3.25 cents to close at $1.91 with three loads traded. This is the highest price since April 15, 2024. Class IV futures are mixed from 15 cents lower to 15 cents higher. Butter futures are 0.50 cent lower to 3.12 cents higher. Dry whey futures are 0.27-2.35 cents higher. Cheese futures are 0.10-3.00 cents lower. The February Cold Storage report will be released this afternoon and is expected to show an increase in inventory.
