OUTSIDE MARKETS SUMMARY:
| CORN: | 9 Higher |
| SOYBEANS: | 28 Higher |
| SOYBEAN MEAL: | $10.20 Higher |
| LIVE CATTLE: | $1.12 Higher |
| DOW JONES: | 198 Points Higher |
| NASDAQ: | 22 Points Higher |
| CRUDE OIL: | $2.39 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 2 cents, closing at $1.84 with one load traded. Barrel cheese price increased 4.75 cents, closing at $1.9275 with four loads traded. The increase of cheese prices this week has broken the pattern that has been seen for some time as an increase was generally met with selling the following day or the day after that. Buyers of cheese had been purchasing on an as-needed basis, rather than purchasing ahead, even though prices were low. Uncertainty over demand and higher levels of inventory eliminated any concern of a tight market. Dry whey price increased 0.50 cent, closing at 44.50 with one load traded. Butter price increased 0.75 cent, closing at $2.9750 with two loads traded. Grade A nonfat dry milk price increased 2.25 cents, closing at $1.5175 with four loads traded. Class III futures are 7 cents lower to 20 cents higher. Class IV steady to 35 cents higher. Butter futures are 1.50 to 3.52 cents higher. Dry whey futures are steady to 0.90 cent higher.
