OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 12 Higher |
| SOYBEAN MEAL: | $3.60 Higher |
| LIVE CATTLE: | $1.17 Lower |
| DOW JONES: | 22 Points Higher |
| NASDAQ: | 52 Points Higher |
| CRUDE OIL: | $1.63 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 0.50 cent, closing at $2.0525, with barrel cheese price increasing 7.50 cents, closing at $1.9050. There were no loads traded in either category. Higher prices did not find the interest of sellers. Butter price declined 1.25 cents, closing at $2.83, with one load traded. This is the first decline after 15 consecutive days of higher prices. It certainly does not mean a top has been reached. It is likely just buyers and sellers accomplishing the business that needed to be done, which resulted in some weakness. Grade A nonfat dry milk price increased 2 cents closing at $1.76 with two loads traded. Dry whey price remained unchanged at 76.25 with no loads traded. Class III futures are 8 to 41 cents higher. Class IV futures are 10 cents lower to 25 cents higher. Butter futures are 0.52 cent lower to 2.02 cents higher. Dry whey futures are 1.50 cent lower to 3.75 cent higher. USDA left milk production unchanged from December on the World Agricultural Supply and Demand report released Wednesday. Production is estimated at 227.7 billion pounds this year.
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