OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 12 Higher |
| SOYBEAN MEAL: | $8.60 Higher |
| LIVE CATTLE: | $1.97 Lower |
| DOW JONES: | 421 Points Lower |
| NASDAQ: | 218 Points Lower |
| CRUDE OIL: | $4.96 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 1.50 cents to close at $1.4350, with 9 loads traded. The barrel cheese price remained unchanged at $1.4400, with no loads traded. The dry whey price increased 0.25 cent to close at 76.25 cents with 2 loads traded. The strength in blocks and dry whey has had little impact on Class III futures. Contracts are 23 cents lower to 3 cents higher. The substantial weakness is seen in the October and November 2027 contracts. Higher prices are only seen in the October and November 2026 contracts. The butter price declined 1.50 cents to close at $1.3550 with 18 loads traded. There were 10 unfilled bids and 54 uncovered offers remaining at the close of spot trading. Grade A nonfat dry milk gained 4.00 cents to close at $2.035 with 3 loads traded. Both price strength and weakness have been incredible since the beginning of the year. Class IV futures have only shown trades in the April, July, and August contracts at 37 cents, 24 cents, and 34 cents lower. Butter futures are 1.90 cents higher to 1.62 cents lower. Dry whey futures have not traded. Cheese futures are 1.10 cents lower to 0.80 cent higher. Nonfat dry milk futures are 0.90 cent lower to 1.22 cents higher.
