OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Higher |
| SOYBEANS: | 16 Higher |
| SOYBEAN MEAL: | $1.50 Higher |
| LIVE CATTLE: | $0.67 Lower |
| DOW JONES: | 446 Points Higher |
| NASDAQ: | 160 Points Higher |
| CRUDE OIL: | $1.25 Higher |
MIDDAY MARKET UPDATE:
Traders were optimistic cheese prices would increase Thursday. Class III futures were higher ahead of spot trading and solidified those gains after the trading period. The block cheese price remained unchanged at $2.0750 with five loads traded. The price initially increased to $2.10 before dropping back to unchanged. The barrel cheese price gained 4.75 cents closing at $2.1725 with one load traded. There were two unfilled bids for loads of blocks and one unfilled bid for barrels at the close. The dry whey price increased 0.75 cent, closing at 56 cents with no loads traded. Class III futures are 2 to 49 cents higher with January showing the greatest gain and a new contract high. The butter price declined 2.75 cents, closing at $3.17 with no loads traded. Grade A nonfat dry milk increased by 0.50 cent, closing at $1.31 with three loads traded. Class IV futures are 1 to 21 cents lower. Butter futures are 3.75 cents lower to 0.85 cent higher. Dry whey futures are 0.55 cent lower to 0.72 cent higher.
