Tuesday Midday Dairy Market Summary - Blocks Gain for Third Consecutive Day

OUTSIDE MARKETS SUMMARY:

CORN:	8 Higher
SOYBEANS:	17 Lower
SOYBEAN MEAL:	$3.50 Lower
LIVE CATTLE:	$0.50 Lower
DOW JONES:	141 Points Lower
NASDAQ:	106 Points Lower
CRUDE OIL:	$1.30 Higher

MIDDAY MARKET UPDATE:

Block cheese continued to push higher Tuesday, gaining 5.25 cents and closing at $1.6525 with three loads traded and no unfilled bids or uncovered offers remaining at the close. Barrel cheese price closed unchanged at $1.5150 with eight loads traded. Price first increased 3.50 cents before buyers pulled back and sellers became more aggressive, pushing price back down. There was an unfilled bid and an uncovered offer remaining at the close. The inability of barrels to hold gains resulted in Class III futures slipping back. Futures are mixed, ranging from 11 cents lower to 23 cents higher. Dry whey price increased 0.50 cent, closing at 26 cents with no loads traded. There was a lot of business that wanted to be done if the price was right. There were 31 unfilled bids and five uncovered offers remaining at the close. Butter price declined 1.25 cents, closing at $2.4375 with no loads traded and two uncovered offers remaining at the close. Grade A nonfat dry milk slipped 0.75 cent, ending at $1.1525 with no loads traded. Class IV futures are steady to a penny higher. Butter futures are 0.50 cent lower to 0.05 cent higher. Dry whey futures have only traded in the September contract with the price 0.37 cent higher.