OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 43 Higher |
| SOYBEAN MEAL: | $14.20 Higher |
| LIVE CATTLE: | $0.17 Lower |
| DOW JONES: | 89 Points Higher |
| NASDAQ: | 292 Points Higher |
| CRUDE OIL: | $2.55 Higher |
MIDDAY MARKET UPDATE:
After two positive days for cheese prices, buyers stepped back again. Block cheese price fell 6 cents closing at $1.9375 with two loads traded. Barrel cheese price declined 3.25 cents closing at $1.8575 with two loads traded. This was not a welcomed sight after it looked as if buyers were stepping back in at the lower prices and that a larger retracement would unfold. Now, the best we can hope for is for price to stabilize in a range. Dry whey price declined a penny closing at 45.50 with no loads traded. Butter gained 3.50 cents ending spot trading at $2.9925 with 20 loads traded. Quite a few loads continue to trade as buyers and sellers are comfortable at the current price. Grade A nonfat dry milk price declined 1.50 cents closing at $2.6650 with two loads traded. Class III futures are 51 cents lower to 21 cents higher. Class IV futures are 10-27 cents higher. Butter futures are 0.50–7.50 higher. Dry whey futures are steady to 1.25 cents higher.
