Wednesday Midday Dairy Market Summary - Cheese Prices Move in Different Directions

OUTSIDE MARKETS SUMMARY:

CORN:	7 Higher
SOYBEANS:	Unchanged
SOYBEAN MEAL:	$1.30 Higher
LIVE CATTLE:	$0.60 Higher
DOW JONES:	76 Points Lower
NASDAQ:	5 Points Lower
CRUDE OIL:	$1.94 Lower

MIDDAY MARKET UPDATE:

Sellers wanted to move block cheese and buyers wanted to purchase barrel cheese at midday Wednesday. Block cheese fell 6.75 cents, closing at $1.63 with four loads traded. There were seven unfilled bids and one uncovered offer remaining at the close. Barrel cheese price jumped 7.50 cents, closing at $1.62 with no loads traded. There were six unfilled bids remaining at the close. Dry whey price increased 0.75 cent, closing at 39.50 cents with two loads traded.

Class III futures are 16 cents lower to 22 cents higher with December showing the greatest gain. Butter price fell 10 cents, closing at $2.7975 with two loads traded, two unfilled bids and one uncovered offer remaining. Grade A nonfat dry milk price increased a penny, closing at $1.18 with no loads traded. Class IV futures are steady to 11 cents lower, Butter futures are 2.87 cents lower to 0.50 cent higher. Dry whey futures are 0.75 cent lower to 0.95 cent higher.