OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 4 Higher |
| SOYBEAN MEAL: | $0.90 Lower |
| LIVE CATTLE: | $0.25 Lower |
| DOW JONES: | 393 Points Higher |
| NASDAQ: | 76 Points Higher |
| CRUDE OIL: | $0.86 Lower |
MIDDAY MARKET UPDATE:
The block and barrel cheese prices remained unchanged at $1.9275 and $1.88 respectively. There were bids and offers placed, but no loads were traded. This has not provided much support for Class III futures with contracts mixed. Futures showed greater strength ahead of spot trading but slipped after there was little reason to hold the gains. The dry whey price remained unchanged at 60 cents with no loads traded. Class III futures are 12 cents lower to 8 cents higher. The butter price declined 2.75 cents closing at $2.65 with 22 loads traded. There is no shortage of butter as sellers continue to offer it on the market. Buyers were able to pick up supplies without having to chase the market. This is the lowest price since January 24. Nonfat dry milk remained unchanged at $1.3550 with one load traded. Class IV futures are 1 cent lower to 1 cent higher. Butter futures are steady to 1.47 cents lower. Dry whey futures are 0.27 cents lower to 1.22 cents higher.
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