OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 23 Higher |
| SOYBEAN MEAL: | $18.30 Higher |
| LIVE CATTLE: | $0.12 Lower |
| DOW JONES: | 92 Points Higher |
| NASDAQ: | 96 Points Lower |
| CRUDE OIL: | $0.66 Lower |
MIDDAY MARKET UPDATE:
Class III milk futures are mixed despite selling pressure on spot cheese prices. Class III futures were higher posting some double-digit gains in closer contracts, but have since fallen back with January and February posting double-digit losses. Block cheese price declined 5.50 cents ending at $1.9950 with no loads traded. Barrel cheese price declined 0.75 cent closing at $1.8650 with no loads traded. No buyers showed up during spot trading. There may be more of the same next week. Butter price remained unchanged at $2.7425 with no loads traded. No buyers or sellers showed up to do any business. Grade A nonfat dry milk price jumped 4.25 cents, closing at $1.71 with three loads traded. This is the highest price since July 17, 2014. What is interesting is that Class IV futures have not reacted positively to the gain with contracts ranging from 17 cents lower to 26 cents higher. August is posting the gain which took place earlier this morning prior to spot trading. Dry whey price increased 0.50 cent closing at 75.75 cents with no loads traded. Butter futures are 1.12 to 3.95 cents lower. Dry whey prices are steady to 0.50 cent lower.
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