OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 14 Higher |
| SOYBEAN MEAL: | $2.30 Higher |
| LIVE CATTLE: | $0.62 Higher |
| DOW JONES: | 313 Points Lower |
| NASDAQ: | 73 Points Lower |
| CRUDE OIL: | $2.08 |
MIDDAY MARKET UPDATE:
The block cheese price fell 3.25 cents to close at $1.2750 with 6 loads traded. This is the lowest price since May 5, 2020. There was one unfilled bid and 4 uncovered offers remaining at the close of spot trading. The barrel price continues to remain unchanged at $1.4525 with no activity. The dry whey price increased 0.50 cent to close at 81.00 cents with one load traded. This is the highest price since February 22, 2022. Class III futures are under pressure, with the October contract falling below $15.00. The butter price fell 5.25 cents to close at $1.3175 with 19 loads traded. There were 41 unfilled bids and 15 uncovered offers remaining at the close of spot trading. The price may be getting low enough to increase buyer interest. Grade A nonfat dry milk increased 1.25 cents to close at $2.1925 with 4 loads traded. Class III futures are 3-24 cents higher. Butter futures are 3.10 -- 7.50 cents lower. Dry whey futures are 0.25 cent lower. Cheese futures are 0.40 -- 2.90 cents lower. Nonfat dry milk futures are 1.72 -- 4.00 cents higher. The September dairy futures and options have finished trading.
