OUTSIDE MARKETS SUMMARY:
| CORN: | 9 Higher |
| SOYBEANS: | 13 Higher |
| SOYBEAN MEAL: | $2.70 Higher |
| LIVE CATTLE: | $1.40 Higher |
| DOW JONES: | 167 Points Higher |
| NASDAQ: | 246 Points Higher |
| CRUDE OIL: | $0.07 Lower |
MIDDAY MARKET UPDATE:
Block cheese price increased by 0.25 cent to close at $1.4925 with one load traded and an unfilled bid remaining below the market at the close. Barrel cheese price fell 8 cents, closing at $1.5450 with three loads traded. An unfilled bid and uncovered offer remained at the close. This weakness put more pressure on Class III futures, taking them from higher prices before spot trading to lower prices with contracts ranging from 15 cents lower to 6 cents higher. The nearby March contract is the only contract posting a gain as it begins to flatline a little earlier than usual.
Dry whey price remained unchanged at 41 cents with no loads traded. Butter price fell 8.25 cents, closing at $2.7675 with four loads traded. There were three unfilled bids and one uncovered offer remaining at the close of spot trading. Grade A nonfat dry milk price declined by 0.25 cent, closing at $1.1475. Class IV futures are under pressure with contracts ranging from 5-30 cents lower. There has been an unusually high volume of trading that has taken place in later months. Butter futures are 1 to 4.90 cents lower. Dry whey futures are 0.75 to 1.12 cents higher.
.jpg)