OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Higher |
| SOYBEANS: | 2 Higher |
| SOYBEAN MEAL: | $2.20 Higher |
| LIVE CATTLE: | $0.52 Lower |
| DOW JONES: | 161 Points Higher |
| NASDAQ: | 186 Points Higher |
| CRUDE OIL: | $2.29 Lower |
MIDDAY MARKET UPDATE:
Block cheese price jumped 11.50 cents, closing at $1.9250 with two loads traded. The last trade took place at $1.90 with the unfilled bid moving the price up to $1.9250, unable to find a willing seller. Barrel cheese price increased 4.50 cents, closing at $1.84 with seven loads traded and no unfilled bids or uncovered offers remaining at the close. Although the jump of blocks looks impressive, we need to remember that blocks fell 17 cents last week. This leaves the market making up for the recent loss but not changing the trend. Overall fundamentals have not changed but maybe this is the beginning of a change. Dry whey price slipped 0.25 cent, closing at 43.75 with one load traded. Class III futures are unchanged to 59 cents higher with April posting the greatest gain. Butter price remained unchanged at $2.38 with no loads traded. Grade A nonfat dry milk price gained 1.50 cents, closing at $1.1850 with no loads traded. Class IV futures have not yet traded. Butter futures are steady to 2.50 cents higher. Dry whey futures are steady to 0.60 cent higher.
