OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 5 Lower |
| SOYBEAN MEAL: | $3 Higher |
| LIVE CATTLE: | $1.42 Higher |
| DOW JONES: | 63 Points Higher |
| NASDAQ: | 111 Points Higher |
| CRUDE OIL: | $2.21 Lower |
MIDDAY MARKET UPDATE:
Block cheese price declined 3.50 cents, closing at $1.72 with no loads traded. Barrel cheese price closed 5 cents lower at $1.47 with nine loads traded. There was one unfilled bid for a load of blocks with three uncovered offers. There were three unfilled bids for barrels remaining at the close of spot trading.
Dry whey price gained a penny, closing at 29.50 cents with 16 loads traded. Class III futures are holding well despite the weakness of cheese with contracts from 11 cents lower to 3 cents higher. Butter price moved to a new record high of $3.35 and a gain of 3.50 cents today with four loads traded. There was one unfilled bid remaining.
Grade A nonfat dry milk price gained 0.50 cent, closing at $1.1825 with no loads traded. Class IV futures are 5 cents to 21 cents lower. Butter futures are 1.25 cents to 10 cents lower as the market corrects from being overbought. Dry whey futures are 0.15 cent to 2 cents higher.
