OUTSIDE MARKETS SUMMARY:
| CORN: | 10 Lower |
| SOYBEANS: | 17 Higher |
| SOYBEAN MEAL: | $4.30 Lower |
| LIVE CATTLE: | $0.07 Higher |
| DOW JONES: | 383 Points Higher |
| NASDAQ: | 266 Points Higher |
| CRUDE OIL: | $0.36 Lower |
MIDDAY MARKET UPDATE:
Block cheese price increased 0.50 cent, closing at $2.37 with no loads traded. Barrel cheese price increased 3.25 cents, closing at $2.45 with four loads traded. Dry whey increased 1.25 cents, closing at 49.75 with two loads traded. Class III futures were higher prior to spot trading, maintaining those gains after spot trading. Traders had already anticipated the gain of underlying cash. Futures are 1 to 21 cents higher. Butter price increased 3 cents, closing at $2.77 with six loads traded. Grade A nonfat dry milk price increased a penny to $1.7450 with three loads traded. Class IV futures are 13 to 31 cents higher. Butter futures are 1.32 to 2.90 cents higher. Dry whey futures are 0.97 to 1.70 cents higher. The Global Dairy Trade auction took place Tuesday with the trade weighted average declined 2.9% from the previous event. This is the fifth consecutive decline.
