OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 6 Higher |
| SOYBEAN MEAL: | $2.70 Lower |
| LIVE CATTLE: | $0.07 Lower |
| DOW JONES: | 67 Points Higher |
| NASDAQ: | 7 Points Lower |
| CRUDE OIL: | $1.96 Higher |
MIDDAY MARKET UPDATE:
Block cheese price remained unchanged at $1.85 with no loads traded. Barrel cheese price slipped 0.25 cent, closing at $1.9325 with no loads traded. This set a little negative tone to the market, taking futures back from their earlier highs. Most contracts still retain gains as there are hopes the market will hold. Dry whey price increased 0.50 cent, closing at 45 cents with three loads traded. Butter price remained unchanged at $3.1475 with no loads traded. This was a bit of a surprise due to there being 13 unfilled bids at the close of spot trading Wednesday. These buyers may have held back Thursday, waiting to see whether sellers would take advantage of the higher price to move product. Without that taking place, it may be an interesting day Friday if those orders need to be filled. Grade A nonfat dry milk price gained 3.50 cents, ending at $1.5650 with 10 loads traded. That much of a price movement and volume is unusual for nonfat. Class III futures are 8 cents lower to 50 cents higher. Class IV futures are 3 to 25 cents higher. Butter futures are 0.37 cent lower to 2.15 cents higher. Dry whey futures have not yet traded.
