Tuesday Midday Dairy Market Summary - Dry Whey Falls Back

OUTSIDE MARKETS SUMMARY:

CORN:	17 Higher
SOYBEANS:	27 Higher
SOYBEAN MEAL:	$7.80 Higher
LIVE CATTLE:	$0.95 Higher
DOW JONES:	107 Points Lower
NASDAQ:	44 Points Higher
CRUDE OIL:	$0.80 Lower

MIDDAY MARKET UPDATE:

Both block and barrel cheese prices remained unchanged at $2.28 and $2.2450 respectively. There were no loads traded in either category. There were offers for 2 loads of blocks remaining at the close. Dry whey was the surprise with price falling 4 cents to 51.75 with 4 loads traded. This eliminates the gains of the past six days. Class III futures were higher into spot trading with the anticipation of further gains of cheese. This took the edge of the market with futures mixed, but still holding well. Butter price increased 0.50 cents closing at $2.9625 with no loads traded. Grade A nonfat dry milk price increased a penny closing at $1.88 with one load traded. Class IV futures are 3-20 cents higher. Butter futures are 1.00–2.35 cents higher. Dry whey futures are 2.45 cents lower to 1.00 cents higher. The Global Dairy Trade auction trade weighted average increased 1.5% from the previous event.