OUTSIDE MARKETS SUMMARY:
| CORN: | 13 Higher |
| SOYBEANS: | 34 Higher |
| SOYBEAN MEAL: | $8.80 Higher |
| LIVE CATTLE: | $0.37 Lower |
| DOW JONES: | 54 Points Higher |
| NASDAQ: | 187 Points Higher |
| CRUDE OIL: | $0.36 Higher |
MIDDAY MARKET UPDATE:
Block cheese price gained 5.50 cents, moving price to $1.53 and the highest level since May 24. There were five loads traded with four unfilled bids and two uncovered offers remaining at the close. Price did move to $1.5325 but slipped back by the close. Barrel cheese price gained a penny, closing at $1.40 with 10 loads traded. Price closed 2 cents off the high it initially reached during trading, but the positive close keeps the market supported. Dry whey price gained 1.75 cents, closing at 24.25 cents with 13 loads traded. Class III futures are 3 cents lower to 50 cents higher with August showing the greatest strength. Butter price increased 3.25 cent, closing at $2.53 with 20 loads traded. There was one unfilled bid and four uncovered offers remaining at the close. Butter is trending higher with buyers interested in purchasing supply for later demand. Grade A nonfat dry milk price gained 3.25 cents, closing at $1.1150 with no loads traded. There were 9 unfilled bids and 4 uncovered offers remaining at the close. Class IV futures are 16 to 25 cents higher Butter futures are 3.22 to 4.25 cents higher. Traders seem to sense season buying may be kicking in with prices anticipated to move higher. Dry whey futures are 0.25 cent lower to 1.00 cent higher.
