OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 21 Higher |
| SOYBEAN MEAL: | $2.10 Higher |
| LIVE CATTLE: | $0.52 Higher |
| DOW JONES: | 110 Points Higher |
| NASDAQ: | 107 Points Higher |
| CRUDE OIL: | $2.81 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 1.25 cents closing spot trading at $2.0725 with one load traded. Barrel cheese price declined a penny to $1.86 with no loads traded. Dry whey increased a penny to 45.50 cents with one load traded. Butter rebounded 7 cents to end at $2.77 with four loads traded. Grade A nonfat dry milk price remained unchanged at $1.3575 with no loads traded. The action in the spot market provided little price direction for traders. The gain of blocks was offset by the weakness of futures. The rebound of butter leaves minimal impact on traders as recent volatility is not being chased. Class III futures are 6 cents lower to 16 cents higher. Class IV futures are 7 cents lower to 17 cents higher. Butter futures are 0.60 cent lower to 0.75 cents higher. Dry whey futures are 0.25 cents lower to 0.35 cents higher.
