OUTSIDE MARKETS SUMMARY:
| CORN: | 18 Higher |
| SOYBEANS: | 35 Higher |
| SOYBEAN MEAL: | $2.00 Higher |
| LIVE CATTLE: | $0.92 Lower |
| DOW JONES: | 196 Points Higher |
| NASDAQ: | 280 Points Higher |
| CRUDE OIL: | $1.05 Higher |
MIDDAY MARKET UPDATE:
Class III milk futures showed strong gains prior to spot trading and then increased substantially. Block cheese price increased 3.50 cents, closing at $2.0150 with two loads traded. Barrel cheese price increased 8.75 cents, closing at $1.80 with no loads traded. There were five unfilled bids for barrels at the close of spot trading. Butter price jumped 16 cents, closing at $2.65 with 13 loads traded. Buyers were leap frogging over each other in their attempt to purchase product with eight unfilled bids remaining at the close. Grade A nonfat dry milk price remained unchanged at $1.6450 with three loads traded. Price initially declined 0.25 cent before returning to unchanged. Dry whey price remained unchanged at 75.25 cents. Class III futures are 2 to 75 cents higher with February through April locked limit up. Class IV futures are 1 to 55 cents higher. Butter futures are 1.37 cents to 4.97 cents higher. Dry whey futures are 1.00 to 2.00 cents higher. The Global Dairy Trade auction trade weighted average increased 0.3%. A USMCA panel agreed with the United States that Canada is breaching its USMCA commitments by reserving most of the in-quota quantity in its dairy tariff-rate quotas for the exclusive use of Canadian processors. This will help eliminate unjustified trade restrictions on American dairy products.
.jpg)
