OUTSIDE MARKETS SUMMARY:
| CORN: | 189 Higher |
| SOYBEANS: | 12 Higher |
| SOYBEAN MEAL: | $2.20 Higher |
| LIVE CATTLE: | $2.57 Lower |
| DOW JONES: | 42 Points Higher |
| NASDAQ: | 171 Points higherr |
| CRUDE OIL: | $0.06 Lower |
MIDDAY MARKET UPDATE:
The block and barrel cheese prices remained unchanged for the second consecutive day, with no loads traded. There were two uncovered offers for blocks remaining at the close of the spot trading period, with no buyers showing up in either category. The dry whey price remained unchanged at 69.75 with no loads traded. Class III futures are mixed, ranging from 8 cents lower to 12 cents higher. The butter price slipped 0.75 cent to close at $1.4625 with 39 loads traded. There were 10 unfilled bids and 40 uncovered offers remaining at the close of spot trading. Even though quite a few loads were traded, it did not diminish the volume of offers that were seen on Tuesday. Grade A nonfat dry milk jumped 5.00 cents to close at $1.6500 with one load traded. This is the highest price since June 30. Class IV futures are 18 cents lower to 48 cents higher. The lower price is in the August contract, which is mostly priced. If more trading activity takes place, futures should be significantly higher. Butter futures are 2.75 cents lower to 0.97 cent higher. Dry whey futures are 0.45 cent lower to 0.25 cent higher. Cheese futures are 0.40 cent lower to 0.70 cent higher. Nonfat dry milk futures are 0.10 -- 4.00 cents higher. USDA reduced its estimated milk output for 2027 to 238.0 billion pounds.
