OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 15 Lower |
| SOYBEAN MEAL: | $3.10 Higher |
| LIVE CATTLE: | $1.60 Higher |
| DOW JONES: | 114 Points Lower |
| NASDAQ: | 4 Points Lower |
| CRUDE OIL: | $1.67 Lower |
MIDDAY MARKET UPDATE:
Block cheese price remained steady at $1.7025 for the third consecutive day. There were no bids or offers posted during spot trading. Barrel cheese price increased $0.75 cent, closing at $1.6175 with no loads traded. An unfilled bid set the closing prices. Dry whey price increased 0.50 cent, ending at 31.50 cents with 21 loads traded. There have been a lot of loads traded over the past few weeks indicating good demand, but supply is sufficient to meet that demand.
Class III futures have come back from the earlier lows with contracts ranging from 7 cents lower to 14 cents higher. The butter price remained unchanged at $3.48 with no loads traded. There were no buyers or sellers showing up in the spot market today. Grade A nonfat dry milk price gained 3 cents, closing at $1.2150 with eight loads traded. This is the highest nonfat price since Feb. 24. This provided support for Class IV futures with contracts 5 cents 25 cents higher. Butter futures are 3.75 cents lower to 2.25 cents higher. Dry whey futures are steady at 2.60 cents higher.
