Wednesday Midday Dairy Market Summary - Blocks Slip Further

OUTSIDE MARKETS SUMMARY:

CORN:	2 Lower
SOYBEANS:	1 Higher
SOYBEAN MEAL:	$0.50 Higher
LIVE CATTLE:	$0.27 Higher
DOW JONES:	169 Points Lower
NASDAQ:	58 Points Lower
CRUDE OIL:	$0.92 Lower

MIDDAY MARKET UPDATE:

Block cheese price declined with a loss of a penny and price closing at $1.42 with 14 loads traded. It is amazing that sellers continue to remain aggressive and willing to move product rather than holding back a bit to wait for price to improve. Price did bounce from the low of $1.4150, but that had little influence on the market. Barrel cheese price increased 0.25 cent with 11 loads traded. There were five unfilled bids for blocks and one unfilled bid for barrels remaining at the close. Dry whey price slipped 0.50 cent, closing at 27 cents with 11 loads traded. There were unfilled bids and one uncovered offer remaining at the close. Class III futures are 28 cents lower to 1 cent higher with September showing the greatest loss. Butter price increased 2.50 cents, closing at $2.4550 with one load traded. There was one unfilled bid remaining at the close. Grade A nonfat dry milk price declined 0.75 cents closing at $1.1550 with one load traded. Class IV futures are one cent higher to 2 cents lower. Butter futures are 0.47 cent lower to 1.72 cents higher. Dry whey futures are 0.37 to 1.52 cents lower. Wednesday is the last day to trade May futures and options. USDA will release the April Agricultural Prices report today.