OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 7 Lower |
| SOYBEAN MEAL: | $2.60 Lower |
| LIVE CATTLE: | $1.25 Lower |
| DOW JONES: | 295 Points Higher |
| NASDAQ: | 344 Points Higher |
| CRUDE OIL: | $3.23 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 3.00 cents, closing at $1.6300 with 11 loads traded. No unfilled bids or uncovered offers remained at the close of spot trading. Interest in doing business has been strong so far this week, with 38 loads changing hands. The barrel cheese price remained unchanged at $1.5750 with no loads traded. The dry whey price increased 0.50 cent to close at 70.50 with one load traded. Class III futures are 13 cents lower to 13 cents higher. The butter price decreased 2.00 cents, closing at $1.70 with 17 loads traded. The price initially decreased by 4.75 cents before buying interest gained back some of the loss. Grade A nonfat dry milk increased 3.50 cents to close at $2.25 with six loads traded. There is no end in sight to the price strength. Class IV futures are 15 to 32 cents higher. Butter futures are 1.27 to 7.32 cents lower. Dry whey futures are 0.65 to 1.75 cents higher. Cheese futures are 0.60 cent lower to 1.00 cents higher. The March Milk Production report will be released Wednesday. I estimate milk output to be up 2.7% from March 2025, with cow numbers up 5,000 head from February.
