Tuesday Midday Dairy Market Summary - Cash Prices Show Further Weakness

OUTSIDE MARKETS SUMMARY:

CORN:	7 Lower
SOYBEANS:	8 Higher
SOYBEAN MEAL:	$10.40 Higher
LIVE CATTLE:	$2.32 Lower
DOW JONES:	72 Points Higher
NASDAQ:	154 Points Higher
CRUDE OIL:	$3.09 Lower

MIDDAY MARKET UPDATE:

Block cheese price slipped 0.25 cents, closing at $1.6975 with no loads traded and two uncovered offers remaining at the close of trading. Barrel cheese price declined 3.50 cents, closing at $1.5450 with seven loads traded. There were seven unfilled bids under the market with one uncovered offer. Dry whey price remained unchanged at 38.50 cents with one load traded.

Class III futures are 9 to 20 cents lower. Butter price fell 11.25 cents, closing at $2.8975 with 12 loads traded. There were three unfilled bids and three uncovered offers remaining at the close. Grade A nonfat dry milk price declined 0.50 cent, closing at $1.17 with one load traded. Class IV futures are 1 cent lower to 6 cents higher. Butter futures are 4.50 cents lower to 0.50 cent higher. Dry whey futures are 0.50 to 1.20 cents lower. The Global Dairy Trade auction trade-weighted average declined 0.7% today.