OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 4 Lower |
| SOYBEAN MEAL: | $9.20 Higher |
| LIVE CATTLE: | $1.05 Higher |
| DOW JONES: | 91 Points Lower |
| NASDAQ: | 13 Points Higher |
| CRUDE OIL: | $0.65 Lower |
MIDDAY MARKET UPDATE:
Block cheese price increased 5.25 cents closing at $1.60 with two loads traded. Barrel cheese price increased 6.50 cents closing at $1.60 with six loads traded. Dry whey price remained unchanged at 40 cents with two loads traded. Class III futures were already higher prior to spot trading almost as if some knew cash prices were going to move higher. The gains of cheese just solidified the strength leaving futures 9-41 cents higher. Butter prices declined after five days of gains moving 1.25 cents lower closing at $2.67 with two loads traded.
Grade A nonfat dry milk price declined 0.50 cent closing at $1.1650 with seven loads traded. Interestingly, Class IV futures are higher with gains in April through December contracts of 5-18 cents. Butter futures are 0.50-3.17 cents higher. Dry whey futures are 1.00-1.65 cents higher. The Global Dairy Trade auction trade weighted average increased 1.6 percent
