OUTSIDE MARKETS SUMMARY:
| CORN: | 15 Higher |
| SOYBEANS: | 65 Higher |
| SOYBEAN MEAL: | $32.40 Higher |
| LIVE CATTLE: | $0.02 Higher |
| DOW JONES: | 377 Points Higher |
| NASDAQ: | 146 Points Higher |
| CRUDE OIL: | $0.96 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 3.50 cents, closing at $1.9525 with two loads traded. Barrel cheese price gained 5.25 cents, closing at $1.9850 with three loads traded. The increase of cheese prices recently may be gaining some momentum as those who were buying on an as-needed basis are now concerned over the price increases. This may result in more aggressive buying as they want to purchase before price increases much further. Dry whey price remained unchanged at 45.75. Class III futures were higher prior to spot trading but pushed higher when cheese prices increased. Contacts range from 9 to 72 cents higher. Butter price remained unchanged at $3.17 with one load traded. Grade A nonfat dry milk price increased 1.25 cents, closing at $1.5875 with four loads traded. Class IV futures are 7 to 27 cents higher. Butter futures are 1.50 cents lower to 1.00 cent higher. Dry whey futures are 0.60 to 2.75 cents higher.
